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(Z0) Pressuring The EMA Resistance Zone

US 30YR FUTURE TECHS
  • RES 4: 177-24 High Sep 4
  • RES 3: 177-14 High Sep 17 and a bull trigger
  • RES 2: 177-00 High Oct 2
  • RES 1: 176-09 Intraday high
  • PRICE: 176-00 @ 11:46 BST Oct 15
  • SUP 1: 175-01 Low Oct 14
  • SUP 2: 174.08 Low Oct 13
  • SUP 3: 173-10 Low Oct 7 and the bear trigger
  • SUP 4: 172-13 0.764 projection of Aug 6 - 28 decline from Sep 3 high

30yr futures are extending the recovery off the Oct 7 low of 173-10. This week's gains signal a reversal of the recent decline between Sep 29 and Oct 7. Futures have entered a band of resistance highlighted by the 20- and 50-day EMAs. Clearance of this zone would strengthen the current bullish theme and open 177-00, Oct 2 high. Note too that a trendline resistance drawn off the Aug 6 high has been probed. 175-01 is first support.

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