Technical Forecast for CGB (Ten-Year Government of Canada Bond)

Ten-Year Government of Canada Bond did continue lower as predicted with the daily chart outlook bearish & we tested & held support in the 131.02/130.95 band. However be ready to go with a break lower today to target 130.65/60. Below here perhaps later in the week we could see 130.43/33.

 

Resistance at 131.39/43 & we should struggle here so watch for a high for the day. However on a push higher 131.70/76 should hold the topside again for a selling opportunity. Just be aware that a break higher sees a gap to fill at 131.96 for a second selling opportunity with stops on shorts above 132.10.