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(U4) Bull Cycle Remains In Play

US 10YR FUTURE TECHS
  • RES 4: 116-00 Round number resistance
  • RES 3: 115-30+ 2.764 proj of the Apr 25 - May 16 - 29 price swing
  • RES 2: 115-17 2.618 proj of the Apr 25 - May 16 - 29 price swing
  • RES 1: 115-03+ High Aug 5
  • PRICE: 114-12 @ 16:00 BST Aug 5
  • SUP 1: 112-21/01+ Low Aug 2 / 1
  • SUP 2: 111-23/110-27+ 20- and 50-day EMA values
  • SUP 3: 109-17+ Low Jul 5
  • SUP 4: 109-04 Trendline drawn from the Apr 25 low

Treasuries traded sharply higher last week and remain firm. Furthermore, today’s gains reinforce the current bullish condition. 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 115-17, a Fibonacci projection. Initial support lies at 112-21, Friday’s intraday low.

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