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US 10YR FUTURE TECHS: (U4) Bull Cycle Remains In Play

US 10YR FUTURE TECHS
  • RES 4: 113-15   1.0% 10-dma envelope
  • RES 3: 113-02   1.764 proj of the Apr 25 - May 16 - 29 price swing
  • RES 2: 113-00   Psychological  round number 
  • RES 1: 112-26   High Aug 1
  • PRICE:‌‌ 112-21 @ 16:25 BST Aug 1
  • SUP 1: 111-15   High Jul 17 
  • SUP 2: 110-30+/110-15 20- and 50-day EMA values 
  • SUP 3: 109-17+ Low Jul 5    
  • SUP 4: 109-02+ Trendline drawn from the Apr 25 low

Treasuries rallied further Thursday, touching a high of 112-26. The extension higher this week reinforces the current bullish theme. Moving average studies are in a bull-mode position too and the recent breach of 111-01, the Jun 14 high, confirmed a resumption of the uptrend that started Apr 25. Scope is seen for a climb towards 113-02, a Fibonacci projection. Support is at 111-15, the Jul 17 high, and 110-30+, the 20-day EMA.

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