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US 10YR FUTURE TECHS: (Z4) Bullish Structure

US 10YR FUTURE TECHS
  • RES 4: 116-16   High May 11 2023 (cont) 
  • RES 3: 116-00   Round number resistance
  • RES 2: 115-19   High Aug 5 and the bull trigger
  • RES 1: 115-13   High Sep 06
  • PRICE:‌‌ 114-21 @ 11:12 BST Sep 09
  • SUP 1: 113-31+/12 20-day EMA / Low Sep 3   
  • SUP 2: 113-00   Low Aug 8
  • SUP 3: 112-30   50-day EMA      
  • SUP 4: 111-28+ High Jul 17 

A bullish theme in Treasuries remains intact and last week’s gains reinforce this theme. Key short-term support has been defined at 113-12, the Sep 3 low, and this level is below support at the 20-day EMA, at 113-31+. A continuation higher would pave the way for a test of key resistance and bull trigger at 115-19, Aug 5 high. For bears, a clear breach of the 20-day EMA and support at the Sep 3 low, would signal scope for a deeper correction.

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