Currently: Cash Looking to: Buy here
As of 11/27/20 close: 138’17.5
LAST WEEK: We suggested selling longs / getting short of TY futures or Treasury bond proxies when TY prices tested 139’08.5. Stops were to be honored on a close above that level and the target for covering was 136’22.
UPDATE: 10-Year US Treasury Price futures appear to us to be in the “c” wave of an upside “abc” correction. This correction should have resistance at 139’06 before downside action resumes. We would look to buy near Friday’s close with an upside target of 139’06 for taking profits. We would look to short at 139’08 with stops on a close above 139’09 and would look to cover at 136’22.
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