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(U2)‌‌ Resumes Its Downtrend

  • RES 4: 120-19+ High May 26 and bull trigger
  • RES 3: 119-25+/120-19+ 50-day EMA
  • RES 2: 119-16+ High Jun 1
  • RES 1: 116-25/118-20+ Intraday high / 20-day EMA
  • PRICE: 116-04 @ 11:28 BST Jun 13
  • SUP 1: 115-30+ Low Jun 13
  • SUP 2: 116-26+ 0.764 proj of the Mar 31 - May 9 - 26 price swing
  • SUP 3: 115-00 Round number support
  • SUP 4: 114-11 0.764 proj of the Mar 31 - May 9 - 26 price swing

Treasuries have started the week on a clear bearish note and the move lower today, has resulted in a break of key support and the bear trigger at 116-21. This also confirms an extension of the bear leg that started on May 26, which included a reversal from the 50-day EMA. The move lower signals scope for weakness below 116-00 towards 115-26+ next, a Fibonacci projection. The 20-day EMA, at 118-20+, is resistance.

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