CGB: Oversold On The Daily Chart
Jason Sen | Sep 17, 2013 05:14AM ET
Ten-Year Government of Canada December bonds gapped open above 127.95 at 128.07 and then plunged throughout the session to support at 127.12/07 and bottomed almost exactly here at 127.02. below here today risks a slide to good support at last week’s low of 126.65/60. We are oversold on the daily chart so this could hold the downside again if tested. However longs need stops below 126.51 for the next support at 126.21/20.
Resistance at 127.22/32 but above here we could reach 127.64/65.
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