Technical forecast for BAX (Three-Month Canadian Bankers’ Acceptance Futures)

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Sept 13 support at 98.70/69 but below here risks a test of 98.65. Resistance at 98.72/73 then 98.76/77.

Dec13 support at 98.70/69, 98.66/65. Below 99.63 risks a test of 98.61/60 but good support here could be a
buying opportunity. Resistance is at 98.74/75 & 98.79/80 above.

Mar14 support at 98.61/60, 98.56, 98.53 & 98.49 but a break lower could see 98.47/46 then 98.42/41. Resistance at 98.65, 98.68/69 then 98.72/73 & 98.76.

June 14 support at 98.53 then 98.51/50 but below 98.49 risks a slide to 98.46/45. Resistance at the 200 day moving average at 98.58/59 then the 100 day moving average at 98.62/63 & July highs at 98.66.

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