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US 10YR FUTURE TECHS: (U4) Retracement Mode

US 10YR FUTURE TECHS
  • RES 4: 111-31   1.382 proj of the Apr 25 - May 16 - 29 price swing 
  • RES 3: 111-17+ 1.236 proj of the Apr 25 - May 16 - 29 price swing 
  • RES 2: 111-13   High Mar 25
  • RES 1: 110-16/111-01 High Jun 28 / 14 and the bull trigger 
  • PRICE:‌‌ 109-05 @ 16:44 BST Jul 1 
  • SUP 1: 109-03+/109-00+ Intraday low / Low Jun 10 and key support 
  • SUP 2: 108-27+ Low Jun 3
  • SUP 3: 108-1+  Trendline drawn from the Apr low    
  • SUP 4: 107-31   Low May 29 and a key support

A bull cycle in Treasuries remains in play, with the pullback that started Jun 14, appearing to be corrective in nature. However, the contract has traded through the 50-day EMA - at 109.27. This signals scope for a deeper retracement and has opened 109-00+, the Jun 10 low. For bulls, a resumption of gains and a break of 111-01, the Jun 14 high, would resume the uptrend and open 111-17+, a Fibonacci projection. Initial resistance is 110-16, Friday’s high.   

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