July 05, 2022 14:36 GMT
(U2) Bull Cycle Still In Play
US 10YR FUTURE TECHS
- RES 4: 121-28+ 1.382 proj of the 14 - 23 - 28 price swing
- RES 3: 121-10 1.236 proj of the 14 - 23 - 28 price swing
- RES 2: 120-19+ High May 26 and a key resistance
- RES 1: 120-04 High Jul 1
- PRICE: 119-25+ @ 15:28 BST Jul 5
- SUP 1: 118-06 Low Jul 1
- SUP 2: 117-16+ 20-day EMA
- SUP 3: 116-11 Low Jun 28 and a key near-term support
- SUP 4: 115-20 Low Jun 17
Treasuries are trading closer to the recent highs. The contract last week resumed the uptrend that started Jun 14 - resistance at 118-08 has been breached. Price is also through the 50-day EMA. This signals scope for a continuation higher and attention is on 120-19+, the May 26 high. Key short-term support has been defined at 116-11, Jun 28 low. A break would highlight a bearish reversal.
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