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(U3) Trend Needle Points South

US 10YR FUTURE TECHS
  • RES 4: 115-00 High Jun 1 and a reversal trigger
  • RES 3: 114-06+ High Jun 6
  • RES 2: 113-30+/114-00 50-day EMA / High Jun 13
  • RES 1: 112-21/113-18 Low Jun 22 / High Jun 15 and key resistance
  • PRICE: 112-02 @ 11:13 BST Jul 5
  • SUP 1: 111-25+ Low Jun 30 and intraday low
  • SUP 2: 111-14+ Low Mar 9
  • SUP 3: 110-27+ Low Mar 2 and key support
  • SUP 4: 110-00 Low Nov 9 2022 (cont)

Treasury futures remain soft following last week’s extension lower and the contract is trading at recent lows. Support at 112-12+, the Jun 14 low, has been cleared. This marked the end of a period of consolidation and confirms a resumption of the current downtrend. The focus is on 111-14+, the Mar 9 low, while further out, scope is seen for a move towards 110-27+, the Mar 2 low and key support. Initial firm resistance is seen at 113-18, the Jun 15 high.

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