Free Trial

(H0) Bearish Theme *RES 4:.....>

US 30YR FUTURE TECHS: (H0) Bearish Theme
*RES 4: 161-09 0.764 projection of Nov 7 - Dec 3 rally from Dec 6 low
*RES 3: 160-26 High Oct 31
*RES 2: 160-13 High Dec 3 and next bull trigger
*RES 1: 159-05 High Dec 5
*PRICE: 158-13 @ 11:36 GMT, Dec 10
*SUP 1: 157-05 Low Dec 6
*SUP 2: 157-02 Low Nov 18 and 61.8% of the Nov 7 to Dec 3 rally
*SUP 3: 156-14 Low Nov 14
*SUP 4: 156-09 76.4% retracement of the Nov 7 to Dec 3 rally
30yr futures are trading slightly higher. Despite this the outlook near-term is
bearish. Futures traded lower Friday to 157-05 and just below the Dec 2 low of
157-06. This leaves the near-term risk skewed to the downside and negates the
Dec 3 bullish signal. A break of Friday's low would open the 61.8% retracement
of the Nov 7 to Dec 3 rally at 157-02. A breach here would expose 156-09, the
76.4% retracement. Resistance is seen at 159-05, Dec 5 high.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.