December T-Bond futures bulls have wilted recently as a nine-week-old uptrend line on the daily bar chart this week was penetrated on the downside and negated. Prices Wednesday also hit a fresh three-week low. Bulls need to show fresh power yet this week. A bearish weekly low close on Friday would suggest a market top is in place in the bond market, and that prices would then begin to trend sideways to lower in the coming weeks. See the key near-term technical support and resistance levels on the chart.
Stay tuned! Jim
Comments are closed.