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(U3) Fresh Cycle Low

US 10YR FUTURE TECHS
  • RES 4: 112-07 High Jul 27
  • RES 3: 111-29 High Aug 10
  • RES 2: 111-25 50-day EMA
  • RES 1: 110-07/110-21+ High Aug 15 / 20-day EMA
  • PRICE: 109-02+ @ 20:01 BST Aug 21
  • SUP 1: 108-31 Intraday low
  • SUP 2: 108-26+ Low Oct 21 2022 (cont) and a major support
  • SUP 3: 108-03+ 2.0% 10-dma envelope
  • SUP 4: 107.17 1.236 proj of the Jul 18 - Aug 4 - Aug 10 price swing

The trend direction in Treasuries remains down and the contract has started the week on a bearish note, breaking to a fresh cycle low. The break confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Last week’s break of support at 109.24, the Aug 4 low, also confirmed a resumption of the bear cycle. The focus is on 108.19+, a Fibonacci projection. Firm resistance is 110-21+, the 20-day EMA.

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