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(U2)‌‌ Corrective Cycle Still In Play

US 10YR FUTURE TECHS
  • RES 4: 118-28 50-day EMA
  • RES 3: 118-06 High Jun 10
  • RES 2: 117-07+ 20-day EMA
  • RES 1: 116-21+ 38.2% of the May 26 - Jun 14 range
  • PRICE: 116-13+ @ 11:15 BST Jun 22
  • SUP 1: 115-20/114-07+ Low Jun 17 / Low Jun 14 and bear trigger
  • SUP 2: 114-00 Round number support
  • SUP 3: 113-19 Low Jun 19, 2009 (cont)
  • SUP 4: 112-27+ 1.236 proj of the Mar 31 - May 9 - 26 price swing

Treasuries are trading closer to recent highs and the current corrective cycle remains in play. The primary trend direction remains down and a resumption of weakness would refocus attention on 114-07+, the Jun 14 low and the bear trigger. A breach would confirm a resumption of the downtrend and open 114-00. Firm resistance is seen at 117-07+, the 20-day EMA. A stronger bounce would be considered corrective.

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  • RES 4: 118-28 50-day EMA
  • RES 3: 118-06 High Jun 10
  • RES 2: 117-07+ 20-day EMA
  • RES 1: 116-21+ 38.2% of the May 26 - Jun 14 range
  • PRICE: 116-13+ @ 11:15 BST Jun 22
  • SUP 1: 115-20/114-07+ Low Jun 17 / Low Jun 14 and bear trigger
  • SUP 2: 114-00 Round number support
  • SUP 3: 113-19 Low Jun 19, 2009 (cont)
  • SUP 4: 112-27+ 1.236 proj of the Mar 31 - May 9 - 26 price swing

Treasuries are trading closer to recent highs and the current corrective cycle remains in play. The primary trend direction remains down and a resumption of weakness would refocus attention on 114-07+, the Jun 14 low and the bear trigger. A breach would confirm a resumption of the downtrend and open 114-00. Firm resistance is seen at 117-07+, the 20-day EMA. A stronger bounce would be considered corrective.