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(U3) Corrective Pullback Extends

US 10YR FUTURE TECHS
  • RES 4: 114-06+ High Jun 6
  • RES 3: 114-00 High Jun 13
  • RES 2: 113-08 High Jul 18 and the short-term bull trigger
  • RES 1: 112-17+113-04+ High Jul 24 / 50-day EMA
  • PRICE: 111-24 @ 15:56 BST Jul 25
  • SUP 1: 111-17+ Low Jul 25
  • SUP 2: 111-11 61.8% retracement of the Jul 7 - 18 rally
  • SUP 3: 110-28 76.4% retracement of the Jul 7 - 18 rally
  • SUP 4: 110-05 Low Jul 6 and the bear trigger

Treasuries traded lower Tuesday. The pullback for now, appears to be a correction, rather than a full reversal. Price has shown below 111-22+, 50.0% of the Jul 7 - 18 rally. A break of this chart point signals scope for a deeper retracement and opens 111-11, the 61.8% level. For bulls, a reversal higher and clearance of last week’s 113-08 high (Jul 18), would resume the recent bull cycle and expose 114-00, the Jun 13 high.

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