CGB: Resistance Likely To Hold
Jason Sen | Sep 23, 2013 03:02AM ET
Ten-Year Government of Canada Bond December hit our buying opportunity at 127.65/60 with stops below 127.50 on Friday and this trade worked perfectly as we bottomed exactly at 127.56.
128.30/40 is resistance having held for the last 3 sessions and is likely to do so today as we start to look overbought. However on a break higher look for a target of 128.68, possibly 128.90 Immediate support is 127.99/94 but below here look for a buying opportunity again at 127.65/60 with stops below 127.50. Next support then seen at 127.26.
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