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US 30YR FUTURE TECHS: (Z9) Bearish Pressure Intact
*RES 4: 162-05/19 50-DMA / High Oct 11
*RES 3: 161-24 High Oct 14
*RES 2: 160-23 High Oct 17 and key near-term resistance
*RES 1: 159-16 High Oct 28
*PRICE: 158-29 @ 11:02 GMT, Oct 30
*SUP 1: 158-05 Low Oct 28
*SUP 2: 157-17 Low Sep 13 and key support
*SUP 3: 156-19 Low Aug 2
*SUP 4: 155-31 1.00 projection of Aug 28 - Sep 13 decline Sep 7 high
The recent move lower in 30yr futures is likely to weigh on sentiment near-term.
Prices have traded through the 100-DMA confirming a resumption of the downtrend
and paving the way for a move towards the key support at 157-17, Sep 13 low. A
break of this level would open 155-31, a Fibonacci projection level. On the
upside, resistance has been defined at 160-23, Oct 17 high where a breach is
required to relieve the current bearish pressure.