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(U1)‌‌ Approaching A Key Support Zone

US 10YR FUTURE TECHS
  • RES 4: 135-22 2.618 proj of Jun 17 - 21 - 25 price swing
  • RES 3: 135-19+ 50% Aug'20 - May'21 Sell-Off
  • RES 2: 134-29/35-14 High Aug 5 / High Aug 04 and the bull trigger
  • RES 1: 134-19+ High Aug 17
  • PRICE: 133-19 @ 20:18 BST Aug 25
  • SUP 1: 133-12+/09+ Trendline drawn from May 30 low / Low Aug 11
  • SUP 2: 132-30 Low Jul 14 and high Jun 21
  • SUP 3: 132-06 Low Jun 30 and Jul 1
  • SUP 4: 131-24+ Low Jun 25

Treasury futures traded lower Wednesday, breaking out of its recent range and is extending the pullback from 134-19+, Aug 17 high. Attention shifts to a key support zone at 133-12+/09+, marking trendline support drawn from May 30 low and the Aug 11 low respectively. A break of this area would signal a potential reversal. While it holds though, the trend outlook remains bullish. The trigger for a resumption of strength is 134-19+.

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