December 30-Year U.S. Treasury Bonds posted an inside day and a lower close. This gives the market a downside bias on the opening today. The market also
December 30-Year U.S. Treasury Bonds posted an inside day and a lower close. This gives the market a downside bias on the opening today. The market also closed inside of the up channel that has been guiding the market higher for several weeks.
Daily December 30-Year U.S. Treasury Bonds
The upper end of the channel is at 145’13. Crossing to the bullish side of this channel will put the market in a strong position.
The lower end of the channel is 143’11. Taking out this level will be a sign of weakness.
The main range is 135’13 to 148’00. Its retracement zone at 141’23 to 140’07 is the next likely downside target.
Passing through this zone are a pair of uptrending angles at 140’27 and 140’13, making them valid upside targets today.
The tone of the market today will be determined by trader reaction to the angle at 143’11.
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.
