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US 10YR FUTURE TECHS: (U4) Builds Base at Weekly Low

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:‌‌ 111-04+ @ 16:05 BST Jul 24
  • SUP 1: 110-21+/110-08 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 bull theme in Treasuries remains intact, with markets seemingly building a base at the weekly low of 110-18+. This goes someway to correcting the pullback off last week’s high, but further progress higher is needed before historic resistance at 111-10+ gives way again. Clearance here would confirm a resumption of the bull cycle and open 111-17+ and 111-31, the 1.236 and 1.382 projection of the Apr 25 - May 16 - 29 price swing. Initial support is 110-21+, the 20-day EMA.    

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