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(U4) Trend Structure Remains Bullish

US 10YR FUTURE TECHS


  • RES 4: 111-31 1.382 proj of the Apr 25 - May 16 - 29 price swing
  • RES 3: 111-17+ 1.236 proj of the Apr 25 - May 16 - 29 price swing
  • RES 2: 111-13 High Mar 25
  • RES 1: 111-01 High Jun 14
  • PRICE: 110-16 @ 11:06 BST Jun 24
  • SUP 1: 109-23+/109-00+ 50-day EMA / Low Jun 10 and key support
  • SUP 2: 108-27+ Low Jun 3
  • SUP 3: 108-12 Trendline drawn from the Apr low
  • SUP 4: 107-31 Low May 29 and a key support

A bull cycle in Treasuries remains in play. Recent consolidation appears to be a flag formation - a bullish continuation signal. Furthermore, the breach of resistance at 110-21, the Jun 7 high, confirmed a resumption of the bull leg that started Apr 25, and has paved the way for an extension towards 111-17+, a Fibonacci projection. Key support to watch lies at 109-00+, the Jun 10 low. Clearance of this level is required to reinstate a bearish theme.

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