US 10yr ($ZN_F) Downside Correction Bias for 126-005
US 10yr future correction phase
· Although we remain bullish for the 2nd half of August, we stated in our last client report that “early this week, however, the intraday setback Friday likely points to a digestion tone, with risk of a dip back towards 126-055, maybe even 126-005”.
· The move towards these support leaves risk still lower and for an approach into Tuesday, though we look for 126-005 to try to hold.
· The Friday surge through the 126-175 peak and 126-195/245 barriers leaves risk still higher into the 2nd half of August, to aim next for our new targets at 127-07 and maybe the secular high at 128-005!!
WHAT CHANGES THIS?
· Below 126-005 eases bull risks; through 125-18 signals a neutral tone, only shifting negative below 125-03.
Please see full report with levels and latest screencast here: http://members.marketchartist.com/Daily/us10yr.pdf
4 Hour US 10yr Sept Future Chart
Daily US 10yr Future: Adjusted Continuation Chart