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(U4) Trend Needle Points North

US 10YR FUTURE TECHS
  • RES 4: 112-25 High Mar 8
  • RES 3: 112-10 1.50 proj of the Apr 25 - May 16 - 29 price swing
  • RES 2: 111-31 1.382 proj of the Apr 25 - May 16 - 29 price swing
  • RES 1: 111-13+/17+ High Jul 16 / 1.382 of Apr 25-May 16-29 swing
  • PRICE: 110-29 @ 11:26 BST Jul 26
  • SUP 1: 110-22/110-09+ 20- and 50-day EMA values
  • SUP 2: 109-02+/109-00+ Low Jul 1 / Low Jun 10 and key support
  • SUP 3: 108-31 Trendline drawn from the Apr 25 low
  • SUP 4: 108-27+ Low Jun 3

A bull theme in Treasuries remains intact and the latest shallow pullback appears to be a correction. Moving average studies are in a bull-mode position and the recent breach of 111-01, the Jun 14 high, confirmed a resumption of the bull cycle that started Apr 25. The bull trigger has been defined at 111-15, the Jul 17 high. Clearance of this level would open 111-31, a Fibonacci projection. Support lies at 110-22, the 20-day EMA.

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