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(U2)‌‌ Key Resistance Appears Exposed

US 10YR FUTURE TECHS
  • RES 4: 123-13+ 1.764 proj of the 14 - 23 - 28 price swing
  • RES 3: 122-29+ High Mar 31
  • RES 2: 121-28+ 1.382 proj of the 14 - 23 - 28 price swing
  • RES 1: 121-10 1.236 proj of the 14 - 23 - 28 price swing
  • PRICE: 121-05+ @ 15:04 BST Jul 28
  • SUP 1: 119.19+/118-23+ Low Jul 27 / 50-day EMA
  • SUP 2: 117-14+ Low Jul 21 and key near-term support
  • SUP 3: 116-11 Low Jun 28
  • SUP 4: 115-20 Low Jun 17

Treasuries have traded higher and cleared resistance at 120-16+, the Jul 6 high and bull trigger. The outlook is bullish and the break higher has confirmed a resumption of the current bull cycle. The contract has also established a bullish price sequence of higher highs and higher lows. This opens 121-10 next, a Fibonacci retracement. On the downside, the 50-day EMA, at 118-23+, is a firm support. Key support is at 117-14+, the Jul 21 low.

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