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(U1)‌‌ Trend Conditions Are Bullish

  • RES 4: 135-22 2.618 proj of Jun 17 - 21 - 25 price swing
  • RES 3: 135-19+ 50% Aug'20 - May'21 Sell-Off
  • RES 2: 135-09 High Feb 25
  • RES 1: 135-07 High Jul 20 and the bull trigger
  • PRICE: 134-15 @ 11:56 BST Jul 26
  • SUP 1: 133-26 Low Jul 19
  • SUP 2: 132-30+ Low Jul 14 and High Jun 21
  • SUP 3: 132-27 50-day EMA
  • SUP 4: 132-20 Bull channel base drawn off the May 30 low

Treasury futures are firmer but remain below 135-07, Jul 20 high. The rally Jul 19, resulted in a break of the bull channel top drawn from the Mar 30 low. This represents a bullish development. Key short-term support is at 133-26, Jul 19 low. The outlook is bullish while it holds. A break would signal scope for a deeper pullback within the channel. 135-07 is the bull trigger for an extension towards 135-19, a retracement level.

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