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Bull Cycle Still In Play


Bearish Threat Still Present


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(U0) Bullish Cycle Still.......>

US 30YR FUTURE TECHS: (U0) Bullish Cycle Still Intact
*RES 4: 184-04 1.236 projection of the Jun 5 - 11 rally from the Jun 16 low
*RES 3: 182-12 1.000 projection of the Jun 5 - 11 rally from the Jun 16 low
*RES 2: 181-15 High Apr 21 and bull trigger
*RES 1: 181.14 High Jul 10
*PRICE: 180-03 @ 11:44 BST, Jul 16
*SUP 1: 177-06 Low Jul 6 and key near-term support
*SUP 2: 176-13 Low Jun 24
*SUP 3: 174-29 Low Jun 16 and the reversal trigger
*SUP 4: 174-07 Low Jun 10
30yr futures continue to trade below the Jul 10 high of 181-14. Despite the
recent pullback from this high, a bullish outlook remains intact. The contract
has recently breached resistance from 179-17, Jun 30 high to 180-28, May 15 high
reinforcing bullish conditions. Attention is on the next key hurdle at 181-15,
Apr 21 high. A breach would signal a broader range breakout and open 189-24
further out, Mar 9 high. The initial key support is at 177-06, Jul 6 low.

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