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(U2)‌‌ Consolidation Mode

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: 119-06/120-16+ High Jul 13 / High Jul 6 and the bull trigger
  • PRICE: 118-07+ @ 11:07 BST Jul 19
  • SUP 1: 117-18/12 Low Jul 8 / 50.0% of the Jun 14 - Jul 6 rally
  • SUP 2: 116-11 Low Jun 28 and a key near-term support
  • SUP 3: 115-20 Low Jun 17
  • SUP 4: 114-05+ Low Jun 14 and the bear trigger

Treasuries are broadly unchanged and continue to consolidate. The short-term trend outlook remains bullish and the recent pullback is considered corrective. Key short-term support is at 116-11, Jun 28 low where a break would strengthen a bearish threat and signal scope for a deeper retracement. On the upside, attention is on the short-term bull trigger at 120-16+, the Jul 6 high. A break resumes the uptrend.

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