Free Trial

(Z9) 50-dma gives way *RES.....>

US 30YR FUTURE TECHS
US 30YR FUTURE TECHS: (Z9) 50-dma gives way
*RES 3: 169-31/03 Low Jul 22 2016/High Sep 28 2016
*RES 2: 167-23 76.4% Fib 177-11 - 136-16
*RES 1: 167-18 Cycle High
*PRICE: 159-17 @ 11:22 BST, Sep 13
*SUP 1: 158-17 Low Aug 5
*SUP 2: 157-02/30 Jul 5 high/ 50% retracement Oct 2018 low to July 2016 high
*SUP 3: 155-30 100-dma
50-dma support gave way at the close Thursday weakening the outlook further as
the retracement gathers pace. This week's downtick has opened the risk of a
retreat back toward early August lows with a 155 handle and the 100-dma at
155-30. The close proximity to the September Fed decision keeps the medium-term
view clouded somewhat, but this deterioration is making the longer-term far more
neutral after looking outright bullish just a few months ago. This keeps firmer
resistance layered between the 166-29/167-18 levels in tact, which bulls may
find difficulty topping for now.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.