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(U4) Bear Threat Still Present

US 10YR FUTURE TECHS
  • RES 4: 111-17+ 1.236 proj of the Apr 25 - May 16 - 29 price swing
  • RES 3: 111-13 High Mar 25
  • RES 2: 110-16/111-01 High Jun 28 / 14 and the bull trigger
  • RES 1: 110-04 High Jul 3
  • PRICE: 109-29 @ 11:08 BST Jul 4
  • SUP 1: 109-02+/109-00+ Low Jul 1 / Low Jun 10 and key support
  • SUP 2: 108-27+ Low Jun 3
  • SUP 3: 108-19 Trendline drawn from the Apr 25 low
  • SUP 4: 107-31 Low May 29 and a key support

Treasuries rallied Tuesday. Despite the latest bounce, the contract remains vulnerable following recent weakness. The bearish breach of both the 20- and 50-day EMAs signals scope for a continuation lower near-term. Sights are on 109-00+, the Jun 10 low. A break of this level would open 108-19, a trendline drawn from the Apr 25 low. Initial firm resistance to watch is 110-16, the Jun 28 high.

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