HALISTER1: Treasury Futures Hit Fibonacci Guarding 200-DMA; Levels in Focus

Treasury Futures Hit Fibonacci Guarding 200-DMA; Levels in Focus

(Bloomberg) -- Treasury futures (TY1) technical levels in focus.
  • Daily trend bias: Bearish
  • Comment: Achieves 125-17 Fibonacci objective set out Thursday, which in turn has generated an oversold setup (9-day RSI hits 28); 125-17 should be seen as last defense line ahead of 200-DMA at 125-10; barring some residual sell-momentum that can target 200-DMA, expect oversold bounce in coming days which should produce a lower top
    • Resistance: 125-25+; 125-30; 126-05+
    • Support: 125-17; 125-15+; 125-13; 125-10
  • NOTE: Contract rolls with active futures on GFUT (no adjustments)
  • NOTE: Sejul Gokal is a FICC technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice
To contact the reporter on this story: Sejul Gokal in London at sgokal1@bloomberg.net To contact the editors responsible for this story: Ven Ram at vram1@bloomberg.net Keith Jenkins

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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