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(Z0) Trend Conditions Remain Bearish

US 30YR FUTURE TECHS
  • RES 4: 177-00 High Oct 2
  • RES 3: 176-10 High Oct 15
  • RES 2: 175-15 Trendline resistance drawn off the Aug 6 high
  • RES 1: 174-30 20-day EMA
  • PRICE: 173-07 @ 11:47 BST Oct 22
  • SUP 1: 172-17 Low Jun 5 (cont) and Low Oct 21
  • SUP 2: 172-13 0.764 proj of Aug 6 - 28 downleg from Sep 3 high
  • SUP 3: 172-00 Round number support
  • SUP 4: 170-19 1.00 proj of Aug 6 - 28 downleg from Sep 3 high

30yr futures remain bearish having started the week on a softer note. Price traded below key support at 173-10 Oct 7 low yesterday. The break negates recent bullish developments and instead confirms a resumption of the downtrend that has been in place since the Aug 6 reversal. This opens 172-17, Jun 5 low (cont) and 172-13, a Fibonacci projection. 172-17 was tested briefly yesterday. Key resistance is at 176-10, Oct 15 high.

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