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(Z0) Approaching Key Trendline Resistance

US 30YR FUTURE TECHS
  • RES 4: 177-00 High Oct 2
  • RES 3: 176-10 High Oct 15 and a key resistance
  • RES 2: 175-16 50-day EMA
  • RES 1: 175-01 Trendline resistance drawn off the Aug 6 high
  • PRICE: 173-18 @ 10:47 GMT Oct 27
  • SUP 1: 173-12 Low Oct 27
  • SUP 2: 171-22 Low Oct 23 and the bear trigger
  • SUP 3: 171-00 Round number support
  • SUP 4: 170-16 1.00 proj of Aug 6 - 28 sell-off from Sep 3 high

30yr futures continue to rally and gains have extended once again today. Futures are approaching a key trendline resistance at 175-01. The trendline is drawn off the Aug 6 high. While the line holds, the downtrend that started on Aug 6 remains intact. A trendline break though would strengthen a short-term bullish case and importantly also signal a trend reversal. This would open 176-10, Oct 15 high. Support is at 173-12, Oct 27 low.

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