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(U9) 50-dma tried and tested...>

US 30YR FUTURE TECHS
US 30YR FUTURE TECHS: (U9) 50-dma tried and tested
*RES 3: 157-02 Jul 5 high
*RES 2: 156-30 50% Jul 2016 high-Oct 2018 low
*RES 1: 155-22 Jul 8 high
*PRICE: 154-24 @ 11:04 BST, Jul 29
*SUP 1: 154-00 50-dma
*SUP 2: 152-27 Jun 11 low, key support
*SUP 3: 151-28 38.2% of Mar-Jul rally
50-dma continues to prove itself as a very decent support line for 30yr futures,
which may come into play should the Fed fail to follow through Wednesday. Range
play is expected over the coming sessions, and a rally back above 155-00 is
needed to negate the series of lower lows and lower highs printed since the
beginning of last week. Technical indicators continue to generate bullish
signals and returns the focus to key resistance at 156-30/157-02 from the 50%
retracement level & Jul 5 ytd high.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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