CGB 10-Year Canadian Government Bond Trading Forecast
Jason Sen | May 26, 2014 12:30AM ET
Ten-Year Government of Canada Bond spent last week consolidating gains as we became overbought. Friday saw prices recover above 131.66 and top exactly at resistance of 131.86/88, as expected. This could hold for a move higher again today, but above here we can target 132.12/15 for a selling opportunity. Any shorts need stops above 132.28. Above here, we can target the May highs at 132.55/57 for a selling opportunity.
Immediate support is 131.66/60 but below here could see a low for the day at 131.48/44. Try longs with stops below 131.35. Go with a break lower for gap support at 131.30/25 and the next buying opportunity. A bounce from here is expected, but if prices continue lower look for the next support at 131.11/07.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.