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Technical analysis: US Ten Year Note Future

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US TNote Future – Dec 2009

Tue, Oct 6 2009, 08:25 GMT
by Nicole Elliott

Mizuho Corporate Bank


Comment: Last week’s close above fairly pivotal resistance around 118.16 has seen bullish momentum increase slightly, as expected, though the contract is currently a little overbought. Allow for a little more consolidation today with dips to 119.00 (and probably no lower than 118.16) seen as good buying opportunities for the next leg of the rally which should take the contract up to the 121.24 area.

Strategy: Buy at 119.08/119.00; stop below 118.06. Add to longs on a daily close above 120.00 for 121.24 short term and 123.00/123.16 further out.


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Mizuho Corporate Bank  | 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk

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