US 10-Year Positive Bias To Consolidation Leaves Risks Higher
Steve Miley | Jul 17, 2014 03:03AM ET
US 10-Year future upside risk to 125-08, maybe 125-155/175
An inside Wednesday pattern digestion of the whipsaw Tuesday price action through trend line support for July and the 124-30/28 chart area, leaves risk of a further resilient consolidation late this week.
We see bias for supports to try to hold at 124-24/20 and a better area at 124-145/135 to maintain July upside risks.
Whilst above the lower area, we see risk back to 125-08 and to challenge the peak and resistance at 125-155/175 into next week.
Above here targets the 126-00 cycle peak.
WHAT CHANGES THIS?
Below 124-24 eases bull risks; through 124-135 signals a neutral tone, only shifting negative below 123-25.
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