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(Z0) Holds Above Key Support

US 30YR FUTURE TECHS
  • RES 4: 179-20 76.4% retracement of the Aug 6 - 28 downleg
  • RES 3: 179-18 High Aug 11
  • RES 2: 178-17 High Sep 3 and the bull trigger
  • RES 1: 177-14 High Sep 17
  • PRICE: 176-20 @ 11:46 BST Oct 2
  • SUP 1: 175-08 Low Oct 1
  • SUP 2: 175-00 Low Sep 10 and key near-term support
  • SUP 3: 174-21 Low Sep 1
  • SUP 4: 173-16 Low Aug 28 and a key support

30yr futures reversed course again yesterday, this time higher. Yesterday's price action in futures has defined support at 175-08 with the key 175-00, Sep 10 low still intact. A break of the latter is required to strengthen any bearish argument and expose 173-16, Aug 28 low. Key near-term resistance is 177-14, Sep 17 high. Clearance of this hurdle would reinstate bullish pressure and open 178-17, Sep 3 high.

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