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(Z2)‌‌ Needle Still Points South

US 10YR FUTURE TECHS
  • RES 4: 119-18 High Aug 17
  • RES 3: 118-17+ 50-day EMA
  • RES 2: 118-00/01+ High Aug 26 / 20-day EMA
  • RES 1: 117-07+ High Aug 31
  • PRICE: 116-01+ @ 15:47 BST Sep 2
  • SUP 1: 115-23 Low Sep 1
  • 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 remain vulnerable and the contract traded lower again Thursday, extending the current bearish theme. The recent breach of 117-11+, Jul 21 low, reinforced bearish conditions and the subsequent follow through has resulted in the break of 116-01+, 61.8% of the Jun 14 - Aug 2 rally. The break supports the case for a move back to 114-06, Jun 14 low. Initial firm resistance has been defined at 118-00, Aug 26 high.

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