30-Yr U.S. Treasury Bonds (US) Futures Technical Analysis – August 11, 2015 Forecast

September 30-Year U.S. Treasury Bonds posted an inside day, lower close on Monday, following Friday’s strong rally. There was no follow-through to the downside, however, during the pre-market session. The market remains inside Friday’s main range which suggests impending volatility, however, unlike yesterday’s close, there is now a slight upside bias.

Earlier today, T-Bonds found support on a steep uptrending angle at 157’13. The next target under this angle is a major 50% level at 156’10. The daily chart opens up to the downside with the next target an uptrending angle at 155’13.

On the upside, the first key target is a major Fibonacci level at 158’13. This is followed by a steep uptrending angle at 158’21. Crossing to the strong side of this angle will put T-Bonds in an extremely strong position.

The daily chart is wide open to the upside with the April 17 top at 164’00 and the April 3 top at 165’07 the major upside targets. These targets are not likely to be reached unless a 2016 Fed rate hike is taken completely off the table.