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(Z0) Approaching Support

US 30YR FUTURE TECHS
  • RES 4: 179-18 High Aug 11
  • RES 3: 178-17 High Sep 3 and the bull trigger
  • RES 2: 177-14 High Sep 17
  • RES 1: 177-00 High Oct 2
  • PRICE: 175-08 @ 11:55 BST Oct 5
  • SUP 1: 175-00 Low Sep 10 and key near-term support
  • SUP 2: 174-21 Low Sep 1
  • SUP 3: 173-16 Low Aug 28 and a key support
  • SUP 4: 172-13 0.764 projection of Aug 6 - 28 decline from Sep 3 high

30yr futures have dipped lower again today. Price is approaching key support at 175-00, Sep 10 low. A break of this level would strengthen a bearish argument and expose 173-16, Aug 28 low. This latter level is a major support. On the upside, key near-term resistance has been defined at 177-14, Sep 17 high. For bulls, a break of this hurdle is required to reinstate bullish pressure and open 178-17, Sep 3 high.

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