June U.S. T-Bond futures a buying opportunity on more price strength.
See on the daily bar chart for June U.S. Treasury bond futures that prices are in a steep three-week-old uptrend and this week hit a 2.5-month high. See, too, that the shorter-term moving averages I follow (9- and 18-day) are in a bullish mode as the 9-day is above the 18-day and both lines are trending higher. Bulls have good upside near-term technical momentum. A move above chart resistance at this week’s high of 131 21/32 would become another buying opportunity. The upside price objective would be 134 even, or above. Technical support, for which to place a protective sell stop just below, is located at this week’s low of 130 19/32.
