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
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.
Daily December 10-Year U.S. Treasury Notes
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.
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.
James Hyerczyk is a U.S. based seasoned technical analyst and educator with over 40 years of experience in market analysis and trading, specializing in chart patterns and price movement. He is the author of two books on technical analysis and has a background in both futures and stock markets.
