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(Z1)‌‌ Under Pressure

US 10YR FUTURE TECHS
  • RES 4: 134-00+ High Aug 17 and key near-term resistance
  • RES 3: 133-28 High Sep 3
  • RES 2: 133-12+ High Sep 22
  • RES 1: 132.21+ Low Aug 11 and recent breakout level
  • PRICE: 131-26+ @ 15:48 BST Sep 27
  • SUP 1: 131-14 Low Jun 17 (cont)
  • SUP 2: 131-11+ 1.236 proj of the Aug 4 - 11 - 17 price swing
  • SUP 3: 131-01 1.382 proj of the Aug 4 - 11 - 17 price swing
  • SUP 4: 131-03+ Low Jun 25

Treasury futures are under pressure. The contract last week confirmed a clear break of a key support at 132-21+, Aug 11 low. This confirms a resumption of the bear cycle that started Aug 4 with a bearish price sequence of lower lows and lower highs established. A number of support levels have been cleared and attention is on 131-11 next, a Fibonacci projection. 132-21+ marks initial resistance.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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