10-Yr U.S. Treasury Notes (TY) Futures Technical Analysis – October 14 2014 Forecast
December 10-Year U.S. Treasury Notes closed higher on Monday despite selling off after nearing the major May 1, 2013 top at 127’13. The actual high was 127’12.5.
T-Notes will remain in a bullish position as long as they stay inside the uptrending channel. The lower end of the channel is at 126’18. The upper end of the channel is at 127’24.
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Taking out the major top at 127’13 with conviction could trigger an acceleration into 127’24. Crossing to the bullish side of this angle will put the market in a strong position.
A break through 126’18 will be the first sign of weakness. This should lead to a test of the minor bottom at 126’07. If this price fails then look for a further decline into the pair of uptrending support angles at 125’20 and 125’08.