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(Z0) Bearish Despite Bounce

US 30YR FUTURE TECHS
  • RES 4: 176-10 High Oct 15
  • RES 3: 175-04 Trendline resistance drawn off the Aug 6 high
  • RES 2: 174-13 20-day EMA
  • RES 1: 173-30 High Oct 27
  • PRICE: 173-18 @ 10:47 GMT Oct 27
  • SUP 1: 171-22 Low Oct 23 and the bear trigger
  • SUP 2: 171-00 Round number support
  • SUP 3: 170-16 1.00 proj of Aug 6 - 28 sell-off from Sep 3 high
  • SUP 4: 170-00 Psychological round number

30yr futures maintain a bearish tone despite the recent corrective recovery. Price on Oct 21 cleared 173-10, Oct 7 low. The break negates recent bullish developments and instead confirms a resumption of the downtrend that has been in place since the Aug 6 reversal. A number of price objectives have already been achieved. Attention is on 170-16 next, a Fibonacci projection. Initial resistance is at 173-24, Oct 21 high. Trendline resistance is at 175-04.

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