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Price Is Below The 50-Day EMA

US

Late Corporate Credit Update

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BLOCK, 10Y Weekly Midcurve Put Spd

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US‌‌ ‌‌10YR‌‌ ‌‌FUTURE‌‌ ‌‌TECHS:‌‌ ‌‌(U2)‌‌ Bear Cycle Extends

US 10YR FUTURE TECHS
  • RES 4: 122-02 High Aug 2 and key resistance
  • RES 3: 120-29 High Aug 4
  • RES 2: 119-31/120-22 High Aug 15 / 10
  • RES 1: 119-13+ 20-day EMA
  • PRICE: 118-16 @ 11:17 BST Aug 19
  • SUP 1: 118-11 Intraday low
  • SUP 2: 118-05 50.0% retracement of the Jun 14 - Aug 2 bull cycle
  • SUP 3: 117-14+ Low Jul 21 and key near-term support
  • SUP 4: 117-07 61.8% retracement of the Jun 14 - Aug 2 bull cycle

Treasuries maintain a softer tone and the contract has traded lower today. A continuation would pave the way for weakness towards 118-05, a Fibonacci retracement. A break of this level would signal scope for a move towards 117-14+, the Jul 21 low. Price has recently cleared a trendline support drawn from the Jun 14 low and this reinforces the bearish theme. Initial firm resistance is at 119-31, the Aug 15 high.

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  • RES 4: 122-02 High Aug 2 and key resistance
  • RES 3: 120-29 High Aug 4
  • RES 2: 119-31/120-22 High Aug 15 / 10
  • RES 1: 119-13+ 20-day EMA
  • PRICE: 118-16 @ 11:17 BST Aug 19
  • SUP 1: 118-11 Intraday low
  • SUP 2: 118-05 50.0% retracement of the Jun 14 - Aug 2 bull cycle
  • SUP 3: 117-14+ Low Jul 21 and key near-term support
  • SUP 4: 117-07 61.8% retracement of the Jun 14 - Aug 2 bull cycle

Treasuries maintain a softer tone and the contract has traded lower today. A continuation would pave the way for weakness towards 118-05, a Fibonacci retracement. A break of this level would signal scope for a move towards 117-14+, the Jul 21 low. Price has recently cleared a trendline support drawn from the Jun 14 low and this reinforces the bearish theme. Initial firm resistance is at 119-31, the Aug 15 high.