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US 10YR FUTURE TECHS: (Z18) August Lows To Be Tested
*RES 4: 120-24 High Aug 22
*RES 3: 120-18 Descending trendline (off May and Aug highs)
*RES 2: 119-26 55-DMA
*RES 1: 119-19 Low Sep 7
*PRICE: 119-07 @ 6:49 GMT
*SUP 1: 119-02 Low Aug 1
*SUP 2: 118-22+ Low May 22
*SUP 3: 118-00 Low May 17
*SUP 4: 117-00 Support
Last week's declines in 10-year Tsy futures keep the focus lower this week with
the Aug 1 lows at 119-02 likely to be tested. A break below here would open up a
return to the May lows and suggests a continuation of the broader bearish trend.
Bulls need to recover the 55-dma at 119-26 to shift the outlook back to neutral
and attempt to recover the triangle top at 120-18.