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

Ten-Year Government of Canada Bond unable to sustain a break above 131.70/71. We have recovered from the short term oversold stochastic now & with the daily chart outlook bearish we could continue lower this week. Below 131.40 is more negative. We have support in the 131.02/130.95 band but be ready to go with a break lower to target 130.65/60.

 

Resistance at 131.70/76 should hold the topside again but a break sees a gap to fill at 131.96 for a selling opportunity with stops on shorts above 132.10.