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‌‌(U1)‌‌ Needle Still Points North

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: 134-11+ @ 15:55 BST Aug 19
  • SUP 1: 133-29 Low Aug 18
  • SUP 2: 133-09+/08 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 are firmer. The recent recovery from below the 50-day EMA represents a bullish development and 133-09+, Aug 11 low marks an important support. A resumption of stronger gains would open the Aug 4 high at 135-14 where a break would confirm a resumption of the uptrend. On the downside, a breach of 133-09+ would expose trendline support at 133-08. Clearance of the 133-09+/08 zone would signal a reversal.

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