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(U3) Holds Close to Week’s Lows

US 10YR FUTURE TECHS
  • RES 4: 112-31 High Jul 20
  • RES 3: 112-02+ 50-day EMA
  • RES 2: 111-29 High Aug 10
  • RES 1: 110-10/111-02+ High Aug 14 / 20-day EMA
  • PRICE: 109-23+ @ 17:18 BST Aug 16
  • 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: 108-15+ 2.0% 10-dma envelope

Treasuries remain bearish and the contract printed a new pullback low again Tuesday. Any recovery rally Wednesday was lacking, with prices holding within range of the week’s lows. Price has breached 109.24, Aug 4 low, to confirm a resumption of the 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 111-02+, the 20-day EMA. The recovery from yesterday’s low is considered corrective - for now.

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