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US 10YR FUTURE TECHS: (U4) Corrective Pullback

US 10YR FUTURE TECHS
  • RES 4: 116-00   Round number resistance 
  • RES 3: 115-30+ 2.764 proj of the Apr 25 - May 16 - 29 price swing 
  • RES 2: 115-17   2.618 proj of the Apr 25 - May 16 - 29 price swing
  • RES 1: 114-03/115-03+ High Aug 6 / 5 
  • PRICE:‌‌ 112-23 @ 16:58 BST Aug 8
  • SUP 1: 112-17 Low Aug 8   
  • SUP 2: 111-30/00+ 11-00+ 20- and 50-day EMA values 
  • SUP 3: 110-18+ Low Jul 22     
  • SUP 4: 110-07   Low Jul 9  

Treasuries traded sharply higher last week and a bullish theme is intact. Monday's gains have reinforced the current uptrend. Note that MA studies are in a bull-mode position too and the recent breach of 111-01, Jun 14 high, confirmed a resumption of the uptrend. Scope is seen for 115-17, a Fibonacci projection. Initial support has been breached at 112-21, Aug 2 low and the contract has pulled back from Monday’s high. At this stage, the move is considered corrective.  

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