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(Z0) Eyeing Key Support

US 30YR FUTURE TECHS
  • RES 4: 177-00 High Oct 2
  • RES 3: 176-10 High Oct 15 and a key resistance
  • RES 2: 175-00 50-day EMA
  • RES 1: 174-18/29 Trendline drawn off the Aug 6 high / High Oct 28
  • PRICE: 172-05 @ 11:38 GMT Nov 3
  • SUP 1: 171-29 Intraday low
  • SUP 2: 171-22 Low Oct 23 and the bear trigger
  • SUP 3: 171-00 Round number support
  • SUP 4: 170-16 1.00 proj of Aug 6 - 28 sell-off from Sep 3 high

30yr futures are softer following last week's second half sell-off. The recent pullback follows an inability to clear trendline resistance drawn off the Aug 6 high. The trendline intersects at 174-18. A break, reinforced by a move above 174-29, Oct 28 high would confirm a reversal of the recent downleg and open 176-10, Oct 15 high. While price remains below the trendline, support at 171-22, Oct 23 stays exposed. A break would resume the downtrend.

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