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(Z2)‌‌ Bearish Extension

US 10YR FUTURE TECHS
  • RES 4: 120-02+ High Aug 15
  • RES 3: 119-18 High Aug 17
  • RES 2: 118-21 50-day EMA
  • RES 1: 118-00/08+ High Aug 26 / 20-day EMA
  • PRICE: 116-15+ @ 11:36 BST Sep 1
  • SUP 1: 116-08 Low Jun 28 and intraday low
  • SUP 2: 116-01+ 76.4% retracement of the Jun 14 - Aug 2 bull run
  • SUP 3: 114-26 Low Jun 16
  • SUP 4: 114-06 Low Jun 14 and a key support

Treasuries have traded lower once again today, maintaining the current bearish theme. The recent breach of 117-11+, Jul 21 low, reinforced bearish conditions. This paves the way for a move towards 116-01+, a Fibonacci retracement. Clearance of 116-01+ would strengthen the case for a move back to 114-06, the Jun 14 low. Initial firm resistance has been defined at 118-00, Aug 26 high, ahead of the 50-day EMA at 118-21.

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