Natixis technical analysis note sees scope for a minor pull back in the Treasury note futures in the next few days, but says the support at 124.02 (daily parabolic) is likely to hold.
ST to MT view - Given that the daily stochastic has turned bearish, we cannot rule out some pullback in the next few days to 124 16-124 18 (daily Bollinger moving average) and to a major support at 124 02 (daily parabolic). This last support is likely to hold, as daily volatility is weak, paving the way for new rebounds towards 125.13-125.15 (upper band of daily Bollinger).
There will need to be a clean breakout above these last levels to open the way for a lasting rebound towards 126 (weekly Bollinger moving average) before 126.14 (Fibonacci projection).
Supports are located around 124 16-124 18, at 124 09, at 124-124.02, at 123.22, at 123.07 and at 122.16.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.