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(U1)‌‌ Testing Channel Support

US 10YR FUTURE TECHS
  • RES 4: 135-19+ 50% Aug'20 - May'21 Sell-Off
  • RES 3: 134-29/35-14 High Aug 5 / High Aug 04 and the bull trigger
  • RES 2: 134-19+ High Aug 17
  • RES 1: 134-01+ High Aug 25
  • PRICE: 133-18+ @ 11:25 BST Aug 27
  • SUP 1: 133-15/09+ Channel drawn from May 30 low / Low Aug 11
  • SUP 2: 132-30 Low Jul 14 and high Jun 21
  • SUP 3: 132-06 Low Jun 30 and Jul 1
  • SUP 4: 131-24+ Low Jun 25

Treasury futures have traded lower this week. The contract is once again testing its key bull channel support drawn from the Mar 30 low. The channel floor intersects at 133-15 and marks a key support - the channel base has offered support a number of times since April. A clear break lower would highlight a reversal. Bulls will be looking for the channel to hold and for price to recover, initially towards 134-19+, Aug 17 high.

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