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(Z2)‌‌ Solid Move Lower

US 10YR FUTURE TECHS
  • RES 4: 118-00 High Aug 26
  • RES 3: 117-04+ 50 day EMA values
  • RES 2: 115-24+/116-26 20-day EMA / High Sep 2
  • RES 1: 114.17/115-01 High Sep 20 / 15
  • PRICE: 113-03 @ 14:57 BST Sep 22
  • SUP 1: 112-29 Low Sep 22
  • SUP 2: 112-25+ Low Jun 11 2009
  • SUP 3: 111-24+ 3.0% Lower Bollinger Band
  • SUP 4: 111-05 3.0% 10-dma envelope

Treasuries remain soft and the contract traded lower still Wednesday. Importantly for bears, price has comfortably breached key support at 114-06, the Jun 14 low. This confirms a resumption of the broader downtrend and strengthens the underlying bearish condition. The 113-00 handle has been cleared, the focus is on 112-25+, the Jul 11 2009 low on the continuation contract.

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