June U.S. T-Bond futures a buying opportunity.
See on the daily bar chart for June U.S. Treasury bond futures that prices this week hit a three-month high. Prices are in a steep four-week-old uptrend on the daily chart. 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. The bond market bulls have good upside near-term technical momentum to suggest the uptrend will continue. A move above chart resistance at 132 even would become a buying opportunity. The upside price objective would be 134 16/32 or above. Technical support, for which to place a protective sell stop just below, is located at 130 19/32.
