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(Z3) Bear Trend Remains Intact

US 10YR FUTURE TECHS
  • RES 4: 111-12+ High Sep 1 key resistance
  • RES 3: 110-17 50-day EMA
  • RES 2: 110-07+ High Sep14
  • RES 1: 109-03/109-13 Low Sep 13 / 20-day EMA
  • PRICE: 108-13 @ 11:44 BST Sep 27
  • SUP 1: 108-00 Round number support
  • SUP 2: 107.23 1.236 proj of the Jul 18 - Aug 4 - Aug 10 price swing
  • SUP 3: 107-05+ 1.382 proj of the Jul 18 - Aug 4 - Aug 10 price swing
  • SUP 4: 106-23 1.50 proj of the Jul 18 - Aug 4 - Aug 10 price swing

Treasuries maintain a softer tone and the contract traded lower yesterday. Last week’s move down resulted in a breach of 109-03, the Sep 13 / 19 low, confirming a resumption of the current downtrend. Moving average studies remain in a bear mode position and this highlights a clear downtrend. The focus is on 108-00 and 107-23, the 1.236 projection of the Jul 18 - Aug 4 - Aug 10 price swing. Firm resistance is at 109-13, the 20-day EMA.

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