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(Z3) Bear Trend Firms Further

US 10YR FUTURE TECHS
  • RES 4: 111-12+ High Sep 1 key resistance
  • RES 3: 110-13+ 50-day EMA
  • RES 2: 109-20 High Sep19
  • RES 1: 109-03/109-07+ Low Sep 13 / 20-day EMA
  • PRICE: 107-11 @ 13:57 BST Sep 28
  • SUP 1: 107-05+ 1.382 proj of the Jul 18 - Aug 4 - Aug 10 price swing
  • SUP 2: 106-23 1.50 proj of the Jul 18 - Aug 4 - Aug 10 price swing
  • SUP 3: 106-13+ 2.0% Lower 10-dma envelope
  • SUP 4: 106.00 Round number support

The bear trend in Treasuries remains intact and the contract is trading lower today. The extension this week confirms a resumption of the downtrend and maintains the bearish price sequence of lowers and lower highs - the definition of a downtrend. Sights are on 107-05, a Fibonacci projection. On the upside initial firm resistance is seen at 109-07+, the 20-day EMA. A break would signal a possible base.

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