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(Z0) Attempting A Recovery

US 30YR FUTURE TECHS
  • RES 4: 180-03 High Aug 10
  • RES 3: 179-20 76.4% retracement of the Aug 6 - 28 downleg
  • RES 2: 179-18 High Aug 11
  • RES 1: 178-17 High Sep 3 and the bull trigger
  • PRICE: 176-05 @ 11:51 BST, Sep 8
  • SUP 1: 175-04 Intraday low
  • SUP 2: 174-21 Low Sep 1
  • SUP 3: 173-16 Low Aug 28 and a key support
  • SUP 4: 172-25 2% 10-dma envelope

30yr futures are firmer today and attempting a recovery following Friday's sharp sell-off. For bulls, price needs to hold above support at 175-04, today's low. A climb higher would refocus attention on last week's 178-17 peak that represents the key near-term bull trigger. Clearance of this hurdle would reinstate the recent bullish focus and open 179-20, a retracement level. A move through 175-04 would instead expose 173-16, the Aug 28 low.

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