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BLOCK, More Feb'23 SOFR Call Flys


BLOCK, Sep'23 SOFR Call Spd

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(Z0) Bullish Tone Intact

  • RES 4: 140-22+ 1.0% 10-dma Envelope
  • RES 3: 140-11 Aug 4 high and major resistance
  • RES 2: 139-29+ 76.4% retracement of the Aug 4 - 28 decline
  • RES 1: 139-29 High Sep 3
  • PRICE: 139-18+ @ 11:41 BST Sep 4
  • SUP 1: 139-13 Low Sep 3
  • SUP 2: 139-01 Low Sep 1
  • SUP 3: 138-18+ Low Aug 28 and the bear trigger
  • SUP 4: 138-13 0.764 proj of Aug 4 - 14 sell-off from Aug 21 high

Treasuries traded higher yesterday clearing resistance at 139-19+, Aug 21 and 24 high to hit the best levels of September. This has undermined the recent bearish focus and signals scope for gains to 139-29+ next, a Fibonacci retracement level. A stronger rally through 139-29+ would open key resistance at 140-11, the Aug 4 high. Initial support is seen at yesterday's low of 139-13.

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