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‌‌(U1)‌‌ Cracks Channel Top

US 10YR FUTURE TECHS
  • RES 4: 135-19+ 50% Aug'20 - May'21 Sell-Off
  • RES 3: 135-09 High Feb 25
  • RES 2: 135-00+ 200-dma (cont)
  • RES 1: 134-25+ High Jul 19
  • PRICE: 134-15 @ 16:34 BST Jul 19
  • SUP 1: 132-30+ Low Jul 14 and High Jun 21
  • SUP 2: 132-29+ 20-day EMA
  • SUP 3: 132-13+ Bull channel base drawn off the May 30 low
  • SUP 4: 131-24+/14 Low Jun 25 / Low Jun 17 and a key support

Treasury futures rallied sharply Monday, building on the nascent gains seen at the end of last week. This boosts upside targets higher, with the 200-dma (cont) the next key level at 135-00+. Monday's rally puts the contract above the channel top (crossing at 134-10) to reinforce the bullish tone. A break of 132-30, Jul 14 low would instead be bearish.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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