Free Trial

(U1)‌‌ Stalls At Bull Channel Top

US 10YR FUTURE TECHS
  • RES 4: 134-19 38.2% 2020 - 2021 Sell-off
  • RES 3: 134-12+ High Feb 26 (cont)
  • RES 2: 134-06 1.618 proj of the Jun 17 - 21 - 25 price swing
  • RES 1: 134-03/04+ High Jul 8 / Bull channel top off the May 30 low
  • PRICE: 133-14+ @ 15:51 BST Jul 8
  • SUP 1: 133-06+ Low Jul 7
  • SUP 2: 132-30 High Jun 21 and recent breakout level
  • SUP 3: 132-08 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 Thursday, extending the bull run from the Jun lows. The week's high of 134-03 marked a test of the bull channel top drawn off the May 30 low. Thus far, the resistance has held and a break is needed to confirm the next leg higher. For bears, the bull channel has identified the upper and lower boundaries of the current uptrend. If the channel remains intact, Thursday's high could turn out to be a short-term reversal point.

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

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.