30-Yr U.S. Treasury Bonds (US) Futures Technical Analysis – August 20, 2015 Forecast 10-Yr U.S. Treasury
September 30-Year U.S. Treasury Bonds are trading higher during the pre-market session. This is a continuation of the move which began on Wednesday, following the release of the latest Fed minutes. The rally suggests that investors are lightening up on the possibility of Fed rate hike in September.
The current price is 159’25, which puts the market in a position to test downtrending angles at 159’30, 160’10 and 160’16. The latter is the last potential resistance angle before the 160’22 main top.
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Taking out 160’22 will reaffirm the uptrend. This could trigger a rally into a steep uptrending angle at 160’29. Crossing to the bullish side of this angle will put the market in an extremely strong position with the next target another steep angle at 162’05.
A break under the downtrending angle at 160’10 will signal the presence of sellers. This could trigger a break into the major Fibonacci level at 158’13. The daily chart opens up under this level with the next target an uptrending angle at 157’05. This angle is important because it stopped the break on Thursday.
Based on the current price at 159’25, look for the bullish tone to be sustained on a rally through 159’30. Look for a bearish tone on a sustained move under the downtrending angle at 159’06.