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(U0) Upticks Considered Corrective

US 10YR FUTURE TECHS
  • RES 4: 139-26+ 61.8% of the Aug 4 - 13 downleg / 30 High Aug 11
  • RES 3: 139-23+ High Aug 21 and key resistance
  • RES 2: 139-20+ High Aug 27
  • RES 1: 139-13+ 20-day EMA
  • PRICE: 139-02+ @ 11:39 BST Aug 28
  • SUP 1: 138-23 Intraday low
  • SUP 2: 138-17+ 50.0% retracement of the Jun - Aug rally
  • SUP 3: 138-07 Low Jun 16
  • SUP 4: 138-03+ 61.8% retracement of the Jun - Aug rally

Treasuries are likely to remain vulnerable near-term following this week's sharp sell-off and despite today's strong bounce. A bearish theme has been reinforced following today's earlier breach of 138-28+, Aug 13 and 27 lows. The break confirms a resumption of the downtrend that has been in place since early August. A return lower would open 138-17+, a Fibonacci retracement. On the upside, firm resistance is seen at 139-20, Aug 27 high.

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