(U2)‌‌ Key Resistance Cleared

• 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: 120-28 @ 12:45 BST Jul 29
• 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 this week 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.