March U.S. T-Bond futures a selling opportunity on more price weakness.
See on the daily bar chart for March U.S. Treasury bond futures that prices are in a choppy downtrend and the bears have the near-term technical advantage. See, too, that the shorter-term moving averages I follow are in a bearish mode as the 9-day is below the 18-day moving average and both lines are trending lower. A move below solid chart support at the November low of 128 31/32 would become a selling opportunity. The downside price objective would be 126 even, or below. Technical resistance, for which to place a protective buy stop just above, is located at 130 even.
