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(U1)‌‌ Holding Onto Recent Gains

  • RES 4: 134-12+ High Feb 26 (cont)
  • RES 3: 134-08+ Bull channel top off the May 30 low
  • RES 2: 134-03/06 High Jul 8 / 1.618 proj of Jun 17 - 21 - 25 swing
  • RES 1: 133-28 Intraday high
  • PRICE: 133-25+ @ 19:55 BST Jul 15
  • SUP 1: 132-30+ Low Jul 14 and High Jun 21
  • SUP 2: 132-26+ 20-day EMA
  • SUP 3: 132-12+ 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 holding onto recent gains. Last week's 134-03 high marked a test of the key short-term bull channel top drawn from the May 30 low. The channel top intersects at 134-08+ today and a break of both this level and 134-03, Jul 8 high would strengthen a bullish case. This would signal scope for further gains. Note, moving average studies are in a bull mode too. A break of 132-30, yesterday's low would instead be bearish.

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