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(U4) Trend Structure Bullish

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: 114-03/115-03+ High Aug 6 / 5 and the bull trigger
  • PRICE: 113-07+ @ 11:14 BST Aug 19
  • SUP 1: 112-18+ 20-day EMA
  • SUP 2: 111-17+ 50-day EMA values
  • SUP 3: 110-18+ Low Jul 22
  • SUP 4: 110-07 Low Jul 9

A bullish theme in Treasuries remains intact and price continues to trade above support. Moving average studies are in a bull-mode position and this highlights bullish sentiment. The recent breach of 111-01, the Jun 14 high, confirmed a resumption of the uptrend. Scope is seen for 115-17, a Fibonacci projection. The recent move down is considered corrective. Initial support to watch is 112-18+, the 20-day EMA.

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