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US 10YR FUTURE TECHS: (Z4) Recent Weakness Confirmed as Corrective

US 10YR FUTURE TECHS
  • RES 4: 116-00   Round number resistance  
  • RES 3: 115-19   High Aug 5 and the bull trigger
  • RES 2: 114-31+ 76.4% of the Aug 5 - 8 pullback 
  • RES 1: 114-19+ High Aug 21
  • PRICE:‌‌ 113-29 @ 15:49 BST Sep 03
  • SUP 1: 113-12   Intraday low    
  • SUP 2: 113-00   Low Aug 8 
  • SUP 3: 112-21 50-day EMA       
  • SUP 4: 111-28+ High Jul 17 

Treasuries traded sharply higher into the Tuesday London close, reversing any bearish signal from the print below the 20-day EMA at 113.21. This confirms recent weakness as corrective. A stronger resumption of gains would refocus attention on key resistance and bull trigger at 115-19, Aug 5 high. Initial resistance to watch is 114-19+, Aug 21 high. A deeper retracement would instead expose 112.21, the 50-day EMA. 

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