December U.S. T-Bond futures a buying opportunity on more price strength.
See on the daily bar chart for December U.S. Treasury bond futures that recent price action has seen a good rebound from the September low, including a bullish double-bottom reversal pattern forming. The shorter-term moving averages I follow are also in a bullish posture as the 9-day is above the 18-day moving average, and both lines are trending higher. The bulls have gained upside near-term technical momentum, and would gain better upside momentum by pushing prices above chart resistance at this week’s high of 133 25/32. That would become a buying opportunity. The upside price objective would be 138 even, or above. Technical support, for which to place a protective sell stop just below, is located at 131 27/32.
