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(Z0) Bullish Following Trendline Break

US 30YR FUTURE TECHS
  • RES 4: 177-12 High Sep 29 and a key resistance
  • RES 3: 177-00 High Oct 2
  • RES 2: 176-10 High Oct 15 and a key resistance
  • RES 1: 175-27 High Nov 5
  • PRICE: 174-15 @ 11:33 GMT Nov 6
  • SUP 1: 173-01 50.0% retracement of the Nov 4 - 5 rally
  • SUP 2: 170-07 Low Nov 4 and key support
  • SUP 3: 170-00 Round number support
  • SUP 4: 168-19 1.236 proj of Aug 6 - 28 sell-off from Sep 3 high

30yr futures rallied sharply higher Wednesday off the day low of 170-07. Price has this week cleared trendline resistance drawn off the Aug 6 high. The trendline break was also confirmed by the breach of resistance at 174-29, Oct 28 high and a recent bull trigger. The break signals a more significant reversal of the entire downleg since the Aug 6 high. On the downside, 170-07 has been defined as a key support.

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