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US 10YR FUTURE TECHS: (Z4) Reversal Signal

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% retracement of the Aug 5 - 8 pullback 
  • RES 1: 114-19+ High Aug 21
  • PRICE:‌‌ 114-06+ @ 11:38 BST Sep 04
  • SUP 1: 113-12   Low Sep 3    
  • SUP 2: 113-00   Low Aug 8 
  • SUP 3: 112-22+ 50-day EMA       
  • SUP 4: 111-28+ High Jul 17 

Treasuries traded sharply higher Tuesday and the contract is holding on to its latest gains. The bounce, from below the 20-day EMA, highlights a bullish reversal and signals the end of the recent corrective phase. A stronger resumption of gains would refocus attention on key resistance and the bull trigger at 115-19, Aug 5 high. Initial resistance to watch is 114-19+, Aug 21 high. A deeper retracement would instead expose 112.22+, the 50-day EMA.

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