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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+/17+ High Jul 16 / 1.382 of Apr 25-May 16-29 swing
  • PRICE: 111-08+ @ 11:09 BST Jul 17
  • SUP 1: 110-15+/110-03 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: 108-25+ Trendline drawn from the Apr 25 low

A bullish theme in Treasuries remains intact and this week’s gains reinforce the current set-up. Short-term pullbacks are proving to be corrective. The contract has traded through resistance at 111-10+, the Jul 8 high. This confirms a resumption of the bull cycle and has opened 111-17+ and 111-31, the 1.236 and 1.382 projection of the Apr 25 - May 16 - 29 price swing. Initial support is 110-15+, the 20-day EMA.

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