30-YEAR T-Bonds - Down, But Not Out
Updated
The first support for the 30-Year is 152 (purple line) and the next is 146 (green line). A turn anywhere above 152 in the days to come will signal a bottom and a potential run to 162.
Comment
Holding at trendline support in blue. The fall has been steep and accompanied by high volume. However, a bottom could be in for now and a bounce is possible at these levels. I believe the sell-off in bonds has been overdone. Long term positive trend is still intact as evident on the weekly chart.Disclaimer
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