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‌‌(U1)‌‌ Focus Is On The Channel Top

US 10YR FUTURE TECHS
  • RES 4: 134-12+ High Feb 26 (cont)
  • RES 3: 134-10 Bull channel top off the May 30 low
  • RES 2: 134-06 1.618 proj of Jun 17 - 21 - 25 swing
  • RES 1: 134-05 High Jul 19
  • PRICE: 134-04 @ 11:42 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 are trading higher still early Monday and the contract continues its recovery. The near-term high now crosses at 134-05 and marks a test of the key short-term bull channel top drawn from the May 30 low. The top intersects at 134-10 and a break of both this level and 134-05 would strengthen a bullish case. Note, moving average studies remain in a bull mode too. 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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