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(U2)‌‌ Bear Cycle Extends

US 10YR FUTURE TECHS
  • RES 4: 122-02 High Aug 2 and key resistance
  • RES 3: 120-29 High Aug 4
  • RES 2: 119-31/120-22 High Aug 15 / 10
  • RES 1: 119-13+ 20-day EMA
  • PRICE: 118-02+ @ 16:15 BST Aug 19
  • SUP 1: 118-00 Round number support
  • SUP 2: 117-14+ Low Jul 21 and key near-term support
  • SUP 3: 117-07 61.8% retracement of the Jun 14 - Aug 2 bull cycle
  • SUP 4: 116-26+ Low Jun 29

Treasuries maintain a softer tone and the contract has traded lower today. 118-05, 50.0% of the Jun 14 - Aug 2 bull cycle, has been cleared and this signals scope for an extension towards 117-14+ next, the Jul 21 low. Price has recently cleared a trendline support drawn from the Jun 14 low and this reinforces the current bearish theme. Initial firm resistance is at 119-31, the Aug 15 high.

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  • RES 4: 122-02 High Aug 2 and key resistance
  • RES 3: 120-29 High Aug 4
  • RES 2: 119-31/120-22 High Aug 15 / 10
  • RES 1: 119-13+ 20-day EMA
  • PRICE: 118-02+ @ 16:15 BST Aug 19
  • SUP 1: 118-00 Round number support
  • SUP 2: 117-14+ Low Jul 21 and key near-term support
  • SUP 3: 117-07 61.8% retracement of the Jun 14 - Aug 2 bull cycle
  • SUP 4: 116-26+ Low Jun 29

Treasuries maintain a softer tone and the contract has traded lower today. 118-05, 50.0% of the Jun 14 - Aug 2 bull cycle, has been cleared and this signals scope for an extension towards 117-14+ next, the Jul 21 low. Price has recently cleared a trendline support drawn from the Jun 14 low and this reinforces the current bearish theme. Initial firm resistance is at 119-31, the Aug 15 high.