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 have seen a good rally recently, much of which has been safe-haven demand amid the Cyprus banking crisis. Prices last week hit a three-month high. The bond market bulls have gained good upside momentum recently, to suggest prices can continue to trend sideways to higher in the near term. A move above chart resistance at last week’s high of 144 31/32 would become a fresh buying opportunity. The upside price objective would be 148 16/32, or above. Technical support, for which to place a protective sell stop just below, is located at 143 even.
