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(Z2)‌‌ Southbound

US 10YR FUTURE TECHS
  • RES 4: 120-02+ High Aug 15
  • RES 3: 119-18 High Aug 17
  • RES 2: 118-23 50-day EMA
  • RES 1: 118-00/13 High Aug 26 / 20-day EMA
  • PRICE: 116-26+ @ 11:39 BST Aug 31
  • SUP 1: 116-22+ Low Aug 30
  • SUP 2: 116-08 Low Jun 28
  • SUP 3: 116-01+ 76.4% retracement of the Jun 14 - Aug 2 bull run
  • SUP 4: 114-26 Low Jun 16

A bearish Treasuries theme remains intact and the contract continues to weaken. The recent breach of 117-11+, Jul 21 low, strengthened the case for bears. Potential is seen for weakness towards 116-08 next, the Jun 28 low. Further out, attention is on 116-01+, a Fibonacci retracement. Initial firm resistance has been defined at 118-00, Friday’s high, ahead of the 50-day EMA at 118-23.

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