TBOND dominated by bulls lifting the market higher throughout the day

U.S. Treasury Bond (TBOND) Technical Analysis Report for Jan 10, 2020 | by Techniquant Editorial Team


TBOND breaks back above 50-day moving average
TBOND dominated by bulls lifting the market higher throughout the day
TBOND closes higher for the 2nd day in a row
TBOND pushes through Thursday's high


Moving higher for the 2nd day in a row, TBOND finished the week -0.39% lower at 157.688 after gaining $0.844 (0.54%) today. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 157.031, the market confirmed its breakout through the prior session high after trading up to $0.781 above it intraday.

Daily Candlestick Chart (TBOND as at Jan 10, 2020):

Daily technical analysis candlestick chart for U.S. Treasury Bond (TBOND) as at Jan 10, 2020

Friday's trading range has been $1.187 (0.76%), that's slightly below the last trading month's daily average range of $1.395. Things look different on the weekly timeframe, where the market's trading range of the last week has been above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for TBOND.

One bullish candlestick pattern matches today's price action, the White Candle.

The contract managed to close back above the 50-day moving average at 157.661. When this moving average was crossed above the last time on January 3rd, TBOND actually lost -0.34% on the following trading day. Prices are trading close to the key technical resistance level at 158.531 (R1).

Although 30-year Bond is experiencing a short-term uptrend, this might just be a correction, as both the medium and long-term trends are still bearish.

With four out of the other four Bond Markets closing higher today, the ones that stand out on the positive side are TNOTE10Y gaining 0.19% and TNOTE5Y closing 0.09% higher. None of the markets ended the day in the red. Read more

Market Conditions for TBOND as at Jan 10, 2020

Loading Market Conditions for TBOND (U.S. Treasury Bond)...
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