30 Year Bond Futures

The 30 Year Bond futures have reached an interesting area today. Price action found support at previous support from 6-16 and 8-28. Also, it found support on its VSCORE (measures standard deviations of VWAP anchored to 9-2-19) at levels of previous buying. Large Traders are also holding record short positions, which is bullish. Finally, this market could be forming a minor low pattern. If we get a push above 175 3/32, then we could see upside follow through. The resistance test would come between 175 12/32 to 177 24/32. Sometimes it can take just a few days for the COT extreme to play out. Sometimes it can take weeks. Either way, this is a market worth watching for more upside.

Check out my first tweet on this market here.

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