By Jason Sen
| Jan 31, 2013 11:00AM GMT |
Ten-Year Government of Canada Bond outlook does remain weak with the market in a clear down trend so the break lower was not be a surprise today and we could test 133.19/13 this week. If this does not offer good support we look for 132.81/76 as the next downside target.
As we look in to February we have a realistic downside target of 132.37/09 for this month but good support here should be a buying opportunity.
If we do manage a bounce then we run in to resistance at 133.66 and above here short term Fibonacci resistance and yesterday’s high at 133.82/84 which could cap again. However a break above 133.94 is more positive and should target 134.08/09.
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