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(U4) Trend Structure Remains Bullish

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 High Mar 25
  • PRICE: 111-02+ @ 11:03 BST Jul 16
  • SUP 1: 110-12+/110-01+ 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: 108-24+ Trendline drawn from the Apr 25 low

A bullish theme in Treasuries remains intact and today’s earlier gains reinforce the current set-up. The most recent pullback from today’s intraday high appears to be a correction. The contract has traded through initial resistance at 111-10+, Jul 8 high. This confirms a resumption of the bull cycle and price is approaching 111-13, Mar 25 high. Scope is also seen for a climb to 111-31, a Fibonacci projection. Initial support is 110-12+, the 20-day EMA.

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