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(Z0) Still Climbing

US 10YR FUTURE TECHS
  • RES 4: 140-25 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 and the bull trigger
  • PRICE: 139-20 @ 11:19 BST Sep 14
  • SUP 1: 139-00 Low Sep 4
  • SUP 2: 138-18+ Low Aug 28 and the bear trigger
  • SUP 3: 138-10+ 1.000 proj of Aug 4 - 14 sell-off from Sep 3 high
  • SUP 4: 137-30+ 1.236 proj of Aug 4 - 14 sell-off from Sep 3 high

Treasuries traded higher Friday and remain firm. Futures are retracing the ground lost during the sharp sell-off between Sep 3 - 4. For bulls, activity needs to hold above support at 139-00, Sep 4 low. Continued gains would refocus attention on last week's 139-29 peak that represents the bull trigger. Clearance of this hurdle would open the Aug high of 140-11. A move below 139-00 would instead expose 138-18+, Aug 28 low and a key support.

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