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US TSYS

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(Z0) Clears Channel Resistance

US 30YR FUTURE TECHS
  • RES 4: 179-18 High Aug 11
  • RES 3: 178-15 61.8% retracement of the Aug 6 - 28 downleg
  • RES 2: 178-13 Aug 24 high
  • RES 1: 177-17 50.0% retracement of the Aug 6 - 28 downleg
  • PRICE: 177-04 @ 11:52 BST, Sep 3
  • SUP 1: 176-10 Former channel resistance-now-support
  • SUP 2: 174-21 Low Sep 1
  • SUP 3: 173-16 Low Aug 28
  • SUP 4: 172-24 1.000 proj of Aug 6 - 13 sell-off from Aug 24 high

30yr futures pushed higher again yesterday and cleared the bear channel resistance at 176-19, drawn off the Aug 6 high. The break signals a more significant short-term reversal and attention turns to the next hurdle for bulls, the Aug 24 high at 178-13. Note, 178-15 is the 61.8% retracement of the Aug 6 - 28 decline. Clearance of this 178-13/15 zone would strengthen a bullish argument. Initial support is at 176-10, the former channel resistance.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com