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(U3) Bear Cycle Extends

US 10YR FUTURE TECHS
  • RES 4: 112-31 High Jul 20
  • RES 3: 112-05+ 50-day EMA
  • RES 2: 111-29 High Aug 10
  • RES 1: 110-10/111-07 High Aug 14 / 20-day EMA
  • PRICE: 110-02 @ 16:34 BST Aug 15
  • SUP 1: 109-11+ Low Aug 15
  • SUP 2: 109-10+ Low Nov 4 2022 (cont)
  • SUP 3: 108-26+ Low Oct 21 2022 (cont) and a major support
  • SUP 4: 108-16 2.0% 10-dma envelope

Treasuries remain bearish and the contract printed a new pullback low again Tuesday. Price has breached key support 109.24+, the Aug 4 low, to confirm a resumption of the current bear cycle. This signals scope for a move towards 109-10+, the Nov 4 2022 low. Moving average studies are in a bear mode condition, highlighting current bearish sentiment. Resistance to watch is 111-07, the 20-day EMA.

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