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

cgb2

Ten-Year Government of Canada Bond did continue lower as predicted with the daily chart outlook bearish & we tested & held support in the 131.02/130.95 band. However be ready to go with a break lower today to target 130.65/60. Below here perhaps later in the week we could see 130.43/33.

Resistance at 131.39/43 & we should struggle here so watch for a high for the day. However on a push higher 131.70/76 should hold the topside again for a selling opportunity. Just be aware that a break higher sees a gap to fill at 131.96 for a second 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