March U.S. Treasury bonds a buying opportunity on more price strength.
The T-Bond futures market bulls had a very good week last week and gained fresh upside technical momentum amid strong flight-to-safety buying. March T-Bonds Friday hit a fresh three-month high and closed at a bullish weekly high close. Prices are also now in an accelerating two-month-old uptrend on the daily bar chart. A move above chart resistance at Friday’s high of 150 27/32 would become a fresh buying opportunity. The upside price objective would be 155 even, or above. Technical support, for which to place a protective sell stop just below, is located at 148 23/32.
