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

cgb1

Ten-Year Government of Canada Bond collapsed to hit the lower target of 130.44/34. Today’s outlook remains negative so watch for a test of 130.15/05 lows. This level has held 3 times now but a break lower cannot be ruled out and could target 129.50/40 next week.

Resistance at 130.94/00 could hold any rally but above here we may reach 131.21/29.

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