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(U4) Bull Cycle Resumes

US 10YR FUTURE TECHS
  • RES 4: 112-25 High Mar 8
  • RES 3: 111-31 1.382 proj of the Apr 25 - May 16 - 29 price swing
  • RES 2: 111-13 High Mar 25
  • RES 1: 111-10 Intraday high
  • PRICE: 111-08 @ 14:07 BST Jul 11
  • SUP 1: 110-04+/109-28+ 20- and 50-day EMA values
  • SUP 2: 109-02+/109-00+ Low Jul 1 / Low Jun 10 and key support
  • SUP 3: 108-27+ Low Jun 3
  • SUP 4: 108-22+ Trendline drawn from the Apr 25 low

Treasuries have rallied today, confirming an extension of the bull cycle that started Jul 1. The move higher has resulted in a breach of resistance at 111-01, the Jun 14 high. This cancels a recent bearish threat and instead signals scope for an bullish continuation with the focus on 111-13 next, the Mar 25 high. Clearance of this hurdle would open 111-31, a Fibonacci projection. Initial firm support is at 110-04+, the 20-day EMA.

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