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(U1)‌‌ Approaching Bull Channel Top

US 10YR FUTURE TECHS
  • RES 4: 134-19 38.2% 2020 - 2021 Sell-off
  • RES 3: 134-12+ High Feb 26 (cont)
  • RES 2: 134-06 1.618 proj of the Jun 17 - 21 - 25 price swing
  • RES 1: 134-03 Bull channel top drawn off the May 30 low
  • PRICE: 133-16 @ 16:42 BST Jul 7
  • SUP 1: 133-06+ Low Jul 7
  • SUP 2: 132-30 High Jun 21 and recent breakout level
  • SUP 3: 132-05+ Bull channel base drawn off the May 30 low
  • SUP 4: 131-24+/14 Low Jun 25 / Low Jun 17 and a key support

US Treasury futures are rallying today as the current bull run extends. Futures are approaching the top of a bull channel that intersects at 134-03. The channel is drawn off the May 30 low. This represents a key near-term resistance. A clear break would strengthen the current bullish argument and this would open 134-06, a Fibonacci projection and 134-12, the Feb 26 high (cont). Initial support is at 133-06+, yesterday's low.

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