CGB Forecast: Holds Resistance At 131.86/88
Jason Sen | May 27, 2014 02:09AM ET
The Ten-Year Government of Canada Bond held resistance at 131.86/88 as expected. Prices broke 131.66/60 to see a low for the day at 131.48/44 as predicted. Try longs here again today 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.
Immediate resistance is at 131.66 but above this level could re-target resistance at 131.86/88. This could hold a move higher again today, but a move above here can reach as far as 132.12/15 for a selling opportunity. Any shorts need stops above 132.28. A move above this level can target the May highs at 132.55/57 for a selling opportunity.
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