June U.S. T-Bonds closed down 22/32 at 142 29/32 yesterday. Prices closed nearer the session low yesterday. Trading has turned choppy this week. Bond market bears have the overall near-term technical advantage. The next downside price breakout objective for the T-Bond bears is closing prices below solid technical support at the contract low of 140 14/32. The next upside technical objective for the bulls is to produce a close above solid technical resistance at the March high of 144 29/32. First resistance is seen at 143 even and then at 143 16/32. First support is seen at this week’s low of 142 10/32 and then at 142 even. Wyckoff’s Market Rating: 3.0.
June U.S. T Notes closed down 9.0 (32nds) at 131.09.0 yesterday. Prices closed nearer the session low yesterday. Trading has turned choppy this week. Bulls and bears are on a level near-term technical playing field. The next upside price breakout objective for the bulls is closing prices above solid resistance at the March high of 132.00.5. The next downside price breakout objective for the bears is producing a close below solid technical support at the March low of 130.00.0. First resistance is seen at 131.16.0 and then at yesterday’s high of 131.24.0. First support is seen at this week’s low of 131.02.5 and then at 131.00.0. Wyckoff’s Market Rating: 5.0
