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(U1)‌‌ Weaker Within The Bull Channel

US 10YR FUTURE TECHS
  • RES 4: 134-12+ High Feb 26 (cont)
  • RES 3: 134-06 1.618 proj of the Jun 17 - 21 - 25 price swing
  • RES 2: 134-03/07+ High Jul 8 / Bull channel top off the May 30 low
  • RES 1: 133-20+ High Jul 12
  • PRICE: 133-05+ @ 12:25 BST Jul 14
  • SUP 1: 132-30 Intraday low and High Jun 21
  • SUP 2: 132-24+ 20-day EMA
  • SUP 3: 132-11 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 remain below last week's high. Last week's 134-03 high resulted in a test of a test of the bull channel top drawn from the May 30 low. The channel top remains intact, at 134-07+ today where a break is needed to confirm the next leg higher. The channel has identified the upper and lower boundaries of the uptrend. A deeper retracement would signal scope for further weakness towards the channel base.

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