30-Yr US Treasury Bonds (US) Futures Technical Analysis – June 9 …
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September 30-Year U.S. Treasury Bonds followed through to the upside on Friday, confirming Thursday’s closing price reversal bottom, but failing to reach the 2 to 3 day objective of 136’12 to 136’27. The market could still go back to this zone, but it is going to take some doing since the main trend is down on the daily chart and the market is close enough to challenge the major retracement zone at 134’21 to 133’25.
Daily September 30-Year U.S. Treasury Bonds
Today, three retracement zones may come into play. The first was formed by the two day rally from 134’15 to 136’10. This zone is 135’13 to 135’06. After rallying on Friday, the market broke back into this zone into the close.
Holding 135’13 to 135’06 could send the market back to the retracement zone at 136’12 to 136’27. Since the main trend is down, sellers may step in following a test of this zone. A pair of uptrending angles and a downtrending angle are also likely to provide resistance at 136’18 and 136’24. The most important point inside the retracement zone is 136’18. This is a resistance cluster.
If 135’13 to 135’06 fails as support then look for the selling to continue down to the major retracement zone at 134’21 to 133’25. An uptrending angle at 134’26 forms a potential support cluster with the 50% level at 134’21 and an uptrending angle at 133’28 with the Fibonacci level at 133’25.
The key area to watch early in the session today is 135’13 to 135’06. How investors react to this zone will set the tone for the day.
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30-Yr US Treasury Bonds (US) Futures Technical Analysis – June 9 …
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