Technical forecast for CGB (Ten-Year Government of Canada Bond)

cgb1

Ten-Year Government of Canada Bond unable to sustain a break above 131.70/71. We have recovered from the short term oversold stochastic now & with the daily chart outlook bearish we could continue lower this week. Below 131.40 is more negative. We have support in the 131.02/130.95 band but be ready to go with a break lower to target 130.65/60.

Resistance at 131.70/76 should hold the topside again but a break sees a gap to fill at 131.96 for a selling opportunity with stops on shorts above 132.10.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More