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(U9) Rally sold *RES 4:........>

US 30YR FUTURE TECHS
US 30YR FUTURE TECHS: (U9) Rally sold
*RES 4: 171-16 High Sep 7 2016
*RES 3: 169-31/03 Low Jul 22 2016/High Sep 28 2016
*RES 2: 167-23 76.4% Fib 177-11 - 136-16
*RES 1: 167-15 Intraday High
*PRICE: 165-23 @ 11:11 BST, Aug 23
*SUP 1: 162-15 Low Aug 14
*SUP 2: 159-23 Low Aug 8
*SUP 3: 157-02/30 Jul 5 high/ 50% retracement Oct 2018 low to July 2016 high
*SUP 4: 155-29 High Jul 31
The evident bid tone in early Asia resulted in a 167-15 print for 30yr futures,
the highest level since 2016, adding to the upside argument. Intraday price
action, however, showed the rally being sold from the off, with bulls unable to
sustain. So, while the medium-term trend still points toward Fib resistance at
167-23, a sustained break higher looks unlikely in the coming sessions. This
pits 165-00 as support, a break of which would open the August 14 low at 162-15.
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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