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(U4) Bull Cycle Remains In Play

US 10YR FUTURE TECHS
  • RES 4: 114-00 Round number resistance
  • RES 3: 113-24 2.00 proj of the Apr 25 - May 16 - 29 price swing
  • RES 2: 113-12 High Dec 27 ‘23 (cont) and a key resistance
  • RES 1: 113-06+ High Feb 1 (cont)
  • PRICE: 113-02 @ 11:07 BST Aug 2
  • SUP 1: 112-01+ Low Aug 1
  • SUP 2: 111-04/110-18 20- and 50-day EMA values
  • SUP 3: 109-17+ Low Jul 5
  • SUP 4: 109-03 Trendline drawn from the Apr 25 low

Treasuries continue to trade higher, maintaining this week’s strong impulsive bull leg. Moving average studies are in a bull-mode position too and the recent breach of 111-01, the Jun 14 high, confirmed a resumption of the uptrend that started Apr 25. Scope is seen for a climb towards 113-06+, the Feb 1 (cont). Support to watch is at 111-15, the Jul 17 high, and 111.04, the 20-day EMA.

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