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(Z2)‌‌ Remains Vulnerable

  • RES 4: 119-01 High Aug 18
  • RES 3: 118-03 50-day EMA
  • RES 2: 117-07+/118-00 20-day EMA / High Aug 26
  • RES 1: 116-26 High Sep 2
  • PRICE: 115-28 @ 15:17 BST Sep 12
  • SUP 1: 115-13+ Low Sep 7 and the bear trigger
  • 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 are trading closer to last week’s lows. The contract has recently breached 116-01+, 61.8% of the Jun 14 - Aug 2 rally as well as the recent 115-23 low (Sep 1). The break lower maintains a bearish theme and the price sequence of lower lows and lower highs. Sights are on 114-06, the Jun 14 low and key support. Initial firm resistance has been defined at 116-26, the Sep 2 high.

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