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CGB: Broke Above 136.69/71

Published 04/25/2013, 12:35 AM
Updated 07/09/2023, 06:31 AM
CGB
Ten-Year Government of Canada Bond broke above 136.69/71 but failed below resistance at 136.90/96. we then plunged to close lower and this reversal day may signal a top is now in place.

Watch strong support at 136.36 today as a break lower could target 136.22 then 136.08/04. This is another strong support level and we would expect a floor here this week. Expect a bounce but use stops below 135.90.

Resistance if we hold 136.36 support is at 136.55 then 136.69/71 before 136.85 highs. The daily outlook is turning negative so we do not expect a move beyond here at this stage.

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