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‌‌(Z2)‌‌ Trend Needle Still Points South

US 10YR FUTURE TECHS
  • RES 4: 118-00 High Aug 26
  • RES 3: 117-08 50 day EMA values
  • RES 2: 115-29+/116-26 20-day EMA / High Sep 2
  • RES 1: 115-01 High Sep 15
  • PRICE: 114-02 @ 11:07 BST Sep 21
  • SUP 1: 113-20+ Low Sep 20
  • SUP 2: 113-19 Low Jun 19 2009 (cont)
  • SUP 3: 113-06 2.236 proj of the Mar ‘20 - Apr ‘21 - Aug ‘21 swing
  • SUP 4: 112-25+ Low Jun 11 2009

Treasuries remain soft and the contract traded lower Tuesday. Importantly for bears, price has 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 114.00 handle has been cleared, the focus is on 113-19, the Jun 19 2009 low (cont). Initial firm resistance is at 115-29+, the 20-day EMA.

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