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(U3) Fresh Cycle Low

  • RES 4: 112-07 High Jul 27
  • RES 3: 111-31 50-day EMA
  • RES 2: 111-29 High Aug 10
  • RES 1: 110-07/110-30 High Aug 15 / 20-day EMA
  • PRICE: 109-09 @ 11:34 BST Aug 17
  • SUP 1: 109-05+ Intraday low
  • SUP 2: 109-00 Round number support
  • SUP 3: 108-26+ Low Oct 21 2022 (cont) and a major support
  • SUP 4: 108-11+ 2.0% 10-dma envelope

The trend direction in Treasuries remains down and the contract is trading lower today. This week’s activity has resulted in a break of 109.24, the Aug 4 low, that confirmed a resumption of the bear cycle. The move lower signals scope for 108-26 next, the Oct 21 2022 low (cont). Moving average studies are in a bear mode condition, highlighting a downtrend. Firm resistance is at 110-30, the 20-day EMA.

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