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(U1)‌‌ Bounce Extends

US 10YR FUTURE TECHS
  • RES 4: 135-23 High Feb 24
  • RES 3: 135-22 2.618 proj of Jun 17 - 21 - 25 price swing
  • RES 2: 135-19+ 50% Aug'20 - May'21 Sell-Off
  • RES 1: 134-29/35-14 High Aug 5 / High Aug 04
  • PRICE: 134-17 @ 11:49 BST Aug 17
  • SUP 1: 134-00 20-day EMA
  • SUP 2: 133-09+/05 Low Aug 11 / Trendline drawn off the May 30 low
  • SUP 3: 132-30 Low Jul 14 and high Jun 21
  • SUP 4: 132-06 Low Jun 30 and Jul 1

Treasury futures remain comfortably above last week's low and are higher. The print last week below the 50-day EMA highlighted a bearish risk. However, the fact that the contract has recovered from just below the EMA also signals a bullish development. 133-09+, Aug 11 low marks an important support. If breached, the move would expose trendline support at 133-06. For bulls, stronger gains would open the bull trigger at 135-14.

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