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(U1)‌‌ Channel Support Remains Intact

US 10YR FUTURE TECHS
  • RES 4: 135-19+ 50% Aug'20 - May'21 Sell-Off
  • RES 3: 134-29/35-14 High Aug 5 / High Aug 04 and the bull trigger
  • RES 2: 134-19+ High Aug 17
  • RES 1: 134-05 High Aug 30
  • PRICE: 134-03 @ 19:31 BST Aug 30
  • SUP 1: 133-16/09+ Channel 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 found support late last week and have started the week on a firmer note. The contract recently tested its bull channel support drawn from the Mar 30 low. The channel floor intersects at 133-16 and marks a key support - the base has offered support a number of times since April. A clear break lower would highlight a reversal. Bulls however will be looking for the channel to hold and for price to recover, initially towards 134-19+.

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