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(U9) At cycle highs ahead of...>

US 30YR FUTURE TECHS
US 30YR FUTURE TECHS: (U9) At cycle highs ahead of the Fed
*RES 3: 158-09 Sep 8 2017 high
*RES 2: 156-30 50% Jul 2016 high-Oct 2018 low
*RES 1: 156-12 2% Upper Bollinger Band
*PRICE: 155-11 @ 10:25 BST, Jun 18
*SUP 1: 154-00 Jun17 low
*SUP 2: 153-27 61.8% 152-27 - 155-15
*SUP 3: 149-31/09 50-dma/50% fibo Apr-May rally
Draghi played into the hands of the bulls Tuesday morning, helping nudge the
contract to fresh cycle highs. This raises the risk, however, of the contract
becoming overstretched ahead of the Fed decision, meaning that any pullbacks
could be sharper than they would have been otherwise. Bulls made light work of
the double-top resistance area at 154-30, opening 156-12 and 156-30 as the
near-term targets. Bears need a break back under the Jun 17 low and Fib support
at 153-27 to change the short-term outlook.
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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