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(Z9) Gentle recovery...........>

US 30YR FUTURE TECHS
US 30YR FUTURE TECHS: (Z9) Gentle recovery continues
*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: 160-11 @ 11:15 BST, Sep 20
*SUP 1: 157-17 Low Sep 13
*SUP 2: 157-02/30 Jul 5 high/ 50% retracement Oct 2018 low to July 2016 high
*SUP 3: 156-13 100-dma
Following a (very) modest bout of post-Fed decision volatility, 30-yr futures
continue to grind higher, extending the modest incline and nudging back above
the 50-dma. This tilts the over-arching outlook more neutral despite the break
of the 50-dma last week. Bulls need to close above this level to repair the
picture, with resistance then eyed at 166-29/167-18 levels. The first target for
bears remains the Friday low at 157-17 ahead of Fib support kicking in just
above the 157 handle.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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