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(U0) Bearish Focus

US 30YR FUTURE TECHS
  • RES 4: 184-04 1.236 proj of the Jun 5 - 11 rally from the Jun 16 low
  • RES 3: 183-06 Aug 4 High
  • RES 2: 181-10 High Aug 11
  • RES 1: 180-00 20-day EMA
  • PRICE: 178-17 @ 11:30 BST, Aug 18
  • SUP 1: 177-16 Low Aug 13 and the bear trigger
  • SUP 2: 177-06 Low Jul 6 and key near-term support
  • SUP 3: 177-02 50% retracement of the Jun - Aug Rally
  • SUP 4: 176-13 Low Jun 24

30yr futures are likely to remain bearish following the recent sell-off, with the contract holding onto the bulk of recent lows, indicating a lack of demand. Last week the price traded through the 50- and 100-dmas reinforcing bearish conditions. Attention is on 177-06, Jul 6 low and 177-02, a retracement level. A break would open sub 176-00 levels. Overhead resistance is seen at 180-00, the 20-day EMA. Primary resistance remains 183-06.

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