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(Z0) Outlook Is Bullish Despite Small Fade

US 10YR FUTURE TECHS
  • RES 4: 140-11 Aug 4 high and major resistance
  • RES 3: 139-29+ 76.4% retracement of the Aug 4 - 28 decline
  • RES 2: 139-29 High Sep 3 and the bull trigger
  • RES 1: 139-24 High Sep 17
  • PRICE: 139-14 @ 16:00 BST Sep 23
  • SUP 1: 139-10+ Low Sep 16
  • SUP 2: 139-00 Low Sep 4
  • SUP 3: 138-18+ Low Aug 28 and the bear trigger
  • SUP 4: 138-10+ 1.000 proj of Aug 4 - 14 sell-off from Sep 3 high
Treasuries inched to the lower levels of the week ahead of the close. Despite this, the outlook remains bullish with futures holding above initial support at 139-10+, Sep 16 low. Attention is on 139-24, Sep 17 high and the more pertinent resistance at 139-29, Sep 3 high. Clearance of this latter hurdle would expose the Aug high of 140-11. A move through support at 139-00 however would be bearish and instead open 138-18+, Aug 28 low.

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