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(U3) Sold on Rallies

US 10YR FUTURE TECHS
  • RES 4: 113-08 High Jul 18 and a bull trigger
  • RES 3: 112-31 High Jul 20
  • RES 2: 112-12+ 50-day EMA
  • RES 1: 111-29/112-07 High Aug 10 / Jul 27
  • PRICE: 111-09 @ 16:44 BST Aug 10
  • SUP 1: 110-23/109-24 Low Aug 7 / 4 and the bear trigger
  • SUP 2: 109-14 Low Nov 8 2022 (cont)
  • SUP 3: 109-10+ Low Nov 4 2022 (cont)
  • SUP 4: 108-26+ Low Oct 21 2022 (cont) and a major support

The intraday rally in Treasuries was sold into the London close - a bearish development despite the show above the 20-day EMA. This keeps the trend condition bearish, however, a bullish corrective cycle remains in play and the contract has recovered from its recent lows. A clear break of the 20-day EMA is needed to signal any scope for a stronger corrective recovery, but the bear trigger remains defined at 109-24, Aug 4 low.

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