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(U2)‌‌ Resumes Its Short-Term Uptrend

US 10YR FUTURE TECHS
  • RES 4: 120-00 Round number resistance
  • RES 3: 119-16+ High Jun 1
  • RES 2: 119-03+ 76.4% retracement of the May 26 - Jun 14 bear leg
  • RES 1: 118-29+ Intraday high
  • PRICE: 118-24 @ 11:29 BST Jul 1
  • SUP 1: 117-10+ 20-day EMA
  • SUP 2: 116-11/115-20 Low Jun 17
  • SUP 3: 114-07+ Low Jun 28 / 14 and bear trigger
  • SUP 4: 113-19 Low Jun 19, 2009 (cont)

Treasuries have resumed the short-term uptrend that started on Jun 14. The break higher has resulted in a breach of resistance at 118-08, the Jun 23 high and a move above the 50-day EMA, at 118-16. This signals scope for a continuation higher and attention is on 119-03+, a Fibonacci retracement. Key short-term support has been defined at 116-11, the Jun 28 low. A break would instead highlight a bearish reversal.

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