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(U0) Approaching Key Support

US 30YR FUTURE TECHS
  • RES 4: 181-10 High Aug 11
  • RES 3: 180-00 61.8% retracement of the Aug 6 - 13 move lower
  • RES 2: 180-11 50.0% retracement of the Aug 6 - 13 move lower
  • RES 1: 180-02 High AUg 24 and key resistance
  • PRICE: 177-27 @ 11:29 BST, Aug 26
  • SUP 1: 178.00 Low Aug 19
  • SUP 2: 177-16 Low Aug 13 and the bear trigger
  • SUP 3: 177-06 Low Jul 6 and key near-term support
  • SUP 4: 177-02 50% retracement of the Jun - Aug rally

30yr futures remain offered today. The contract stalled Monday at 180-02. The subsequent sharp sell-off suggests the recovery and corrective bounce between Aug 13 - 24 has run its course. If this is correct, key support at 177-16, Aug 13 low is likely to be tested as a bearish theme starts to again dominate. Clearance of this support would open 177-06, Jul 6 low. Resistance is at 180-02.

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