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(Z2)‌‌ Bearish Extension

US 10YR FUTURE TECHS
  • RES 4: 119-18 High Aug 17
  • RES 3: 118-21 50-day EMA
  • RES 2: 118-00/08+ High Aug 26 / 20-day EMA
  • RES 1: 117-07+ High Aug 31
  • PRICE: 116-05+ @ 13:53 BST Sep 1
  • SUP 1: 116-00+ Intraday low
  • SUP 2: 114-26 Low Jun 16
  • SUP 3: 114-06 Low Jun 14 and a key support
  • SUP 4: 114-00 Round number 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 paved the way for a move towards 116-01+, the 61.8% retracement of the Jun 14 - Aug 2 rally, that has been pierced today. A clear break of this support 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.

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