CGB: Break Higher Not Out Of The Question
Jason Sen | Aug 11, 2014 05:51AM ET
Ten-Year Government of Canada Bond hit support at 137.45/44 and bottomed almost exactly here at 137.39, just above our short term buying opportunity at 137.34/30. We held this week's high at 137.96/99 again yesterday but a break higher not out of the question and targets 138.16/20. Any shorts need stops above 138.25. If we continue higher look for 138.44/47 then 138.65/68. If we continue higher we could reach 138.90/93.
Below 137.80 adds a little pressure but support at 137.66 could hold the downside. However if prices continue lower look for a buying opportunity at 137.50/45 with stops below yesterday's low at 137.39. Next support and excellent buying opportunity at 137.15/12.
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