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(U2)‌‌ Trend Signals Still Point South

US 10YR FUTURE TECHS
  • RES 4: 119-03+ 50-day EMA
  • RES 3: 118-06 High Jun 10
  • RES 2: 117-16+ 20-day EMA
  • RES 1: 116-21+ 38.2% of the May 26 - Jun 14 range
  • PRICE: 116-12+ @ 11:27 BST Jun 17
  • SUP 1: 114-07+ Low Jun 14 and the bear trigger
  • SUP 2: 114-00 Round number support
  • SUP 3: 113-19 Low Jun 19, 2009 (cont)
  • SUP 4: 112-27+ 1.236 proj of the Mar 31 - May 9 - 26 price swing

Despite yesterday’s bounce, the trend needle in Treasuries still points south. The break this week of key support at 116-21, May 9 low, confirmed a resumption of the primary downtrend and maintains the bearish price sequence of lower lows and lower highs. The move lower opens 114-00 next. Firm resistance is seen at 117-16+, the 20-day EMA. A rebound would be considered corrective, allowing an oversold trend reading to unwind.

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  • RES 4: 119-03+ 50-day EMA
  • RES 3: 118-06 High Jun 10
  • RES 2: 117-16+ 20-day EMA
  • RES 1: 116-21+ 38.2% of the May 26 - Jun 14 range
  • PRICE: 116-12+ @ 11:27 BST Jun 17
  • SUP 1: 114-07+ Low Jun 14 and the bear trigger
  • SUP 2: 114-00 Round number support
  • SUP 3: 113-19 Low Jun 19, 2009 (cont)
  • SUP 4: 112-27+ 1.236 proj of the Mar 31 - May 9 - 26 price swing

Despite yesterday’s bounce, the trend needle in Treasuries still points south. The break this week of key support at 116-21, May 9 low, confirmed a resumption of the primary downtrend and maintains the bearish price sequence of lower lows and lower highs. The move lower opens 114-00 next. Firm resistance is seen at 117-16+, the 20-day EMA. A rebound would be considered corrective, allowing an oversold trend reading to unwind.