September T-bond futures a selling opportunity on more price weakness.
See on the daily bar chart for September U.S. Treasury bond futures that prices are in a downtrend and have recently seen a short-covering bounce. The bond market bears are still in firm near-term technical command. A move in prices below chart support at 134 even would provide the bears with some fresh downside technical momentum and it would also become a selling opportunity. The downside price objective would be 130 even, or below. Technical resistance, for which to place a protective buy stop just above, is located at this week’s high of 136 even.
