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(U3) Trend Signals Remain Bearish

US 10YR FUTURE TECHS
  • RES 4: 113-08 High Jul 18 and a bull trigger
  • RES 3: 112-31 High Jul 20
  • RES 2: 112-11 50-day EMA
  • RES 1: 111-29/112-07 High Aug 10 / Jul 27
  • PRICE: 110-06+ @ 11:21 BST Aug 14
  • SUP 1: 109-30+/109-24 Low Aug 13 / 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

Treasuries reversed sharply off the Thursday high and printed a new pullback low at 109-30+. Weakness extended into the Friday session and prices are yet to recover materially in Monday trade. This reinforces a bearish theme and suggests that recent gains have been a correction. A continuation lower would pave the way for weakness towards key support and the bear trigger at 109-24, the Aug 4 low. A break would resume the downtrend. Key short-term resistance has been defined at 111-29, Thursday’s high.

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