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(U2)‌‌ Monitoring Key Short-Term Support

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: 122-25+ 2.0% 10-dma envelope
  • RES 1: 120-29/122-02 High Aug 4 / High Aug 02
  • PRICE: 119-18+ @ 11:32 BST Aug 10
  • SUP 1: 119-11+ Trendline support drawn from the Jun 16 low
  • SUP 2: 119-07+ 50-day EMA
  • SUP 3: 117-14+ Low Jul 21 and key near-term support
  • SUP 4: 116-11 Low Jun 28

Treasuries continue to trade closer to recent lows. The trend direction is unchanged and remains up and the latest move lower is still considered corrective. The contract is however trading just above support at the 50-day EMA, which intersects at 119-07+. There is also a trendline support at 119-11+. A break of this zone would threaten the uptrend. A reversal higher would refocus attention on the bull trigger at 122-02.

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