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(U9) Makes light work of 130...>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (U9) Makes light work of 130 support
*RES 3: 131-23+ Sep 30 2016 high
*RES 2: 131-00 Nov 9 2016 High
*RES 1: 130-27+ Aug 7 high
*PRICE: 129-28 @ 16:25 BST, Aug 13
*SUP 1: 128-14+ Aug 2 low
*SUP 2: 127-27/12 50-dma/Trendline drawn off Apr 17 low
*SUP 3: 125-30+ 100-dma
Having been supported for much of the morning session, Treasury futures lost a
lot of ground as wires reported the planned uptick in trade tariffs on China had
been delayed until December. This saw markets make light work of 130-00 support,
settling just above the day's lows of 129-17 on the move. It's too soon to call
for a bearish breakout just yet, with markets needing to take out Aug 2 lows at
128-14+ to solidify such a move. To the upside, bulls need another 130 handle
with the Aug 7 ytd high at 130-27+ still within reach.

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