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(U3) Softer Start to Thursday Trade

  • RES 4: 114-06+ High Jun 6
  • RES 3: 114-00 High Jun 13
  • RES 2: 113-09+ 50-day EMA and a key resistance point
  • RES 1: 113-08 High Jul 18
  • PRICE: 112-20 @ 11:24 BST Jul 20
  • SUP 1: 112-07+ Low Jul 13
  • SUP 2: 111-03+/110-05 Low Jul 11 / 6 and the bear trigger
  • SUP 3: 110-00 Low Nov 9 2022 (cont)
  • SUP 4: 109-14 Low Nov 8 2022 (cont)

Support provided for Treasuries from the soft UK inflation release proved short-lived, with prices fading through to the Thursday NY open. Nonetheless, prices remain within reach of recent highs of 113-08 - the best level since June 29. The contract has cleared the 20-day EMA and attention turns to a key resistance area at the 50-day EMA, at 113-09+. A clear break of this average would strengthen a bullish theme. Key support and the bear trigger has been defined at 110-05, the Jul 6 low.

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