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(Z0) Approaching The Bear Trigger

US 30YR FUTURE TECHS
  • RES 4: 177-14 High Sep 17 and a bull trigger
  • RES 3: 177-00 High Oct 2
  • RES 2: 176-10 High Oct 15
  • RES 1: 174-27 High Oct 19
  • PRICE: 173-30 @ 11:50 BST Oct 20
  • SUP 1: 173-10 Low Oct 7 and the bear trigger
  • SUP 2: 172-17 Low Jun 5 (cont)
  • SUP 3: 172-13 0.764 proj of Aug 6 - 28 downleg from Sep 3 high
  • SUP 4: 172-00 Round number support

30yr futures are trading lower having started the week on a softer note. Price has breached 174-08, Oct 13 low, exposing the key level at 173-10, Oct 7 low. A break of 173-10 would negate recent bullish developments and instead confirm a resumption of the downtrend that has been in place since the Aug 6 reversal. This would open 172-17, Jun 5 low (cont) and 172-13, a Fibonacci projection. Key resistance has been defined at 176-10, Oct 15 high.

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