TBOND closes higher for the 4th day in a row


U.S. Treasury Bond (TBOND) Technical Analysis Report for May 22, 2020 | by Techniquant Editorial Team

Highlights

TBOND fails to close above 20-day moving average
TBOND closes higher for the 4th day in a row
TBOND closes within previous day's range after lackluster session

Overview

Moving higher for the 4th day in a row, TBOND ended the week -0.4% lower at 180.062 after edging higher $0.250 (0.14%) today on low volume. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily Candlestick Chart (TBOND as at May 22, 2020):

Daily technical analysis candlestick chart for U.S. Treasury Bond (TBOND) as at May 22, 2020

Friday's trading range has been $1.375 (0.76%), that's below the last trading month's daily average range of $1.717. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for TBOND.

After spiking up to 181.125 during the day, the contract found resistance at the 20-day moving average at 180.225. The last time this happened on May 13th, TBOND actually gained 0.62% on the following trading day.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Further buying might move prices higher should the market test April's close-by high at 183.062. Further selling could move prices lower should the market test April's nearby low at 177.438.

Among the three market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Bounce off SMA 20" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for T-Bond. Out of 69 times, TBOND closed higher 60.87% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 55.07% with an average market move of -0.01%.

With four out of the other four Bond Markets closing higher today, the ones that stand out on the positive side are TNOTE10Y gaining 0.09% and BUND closing 0.03% higher. None of the markets ended the day in the red. Read more


Market Conditions for TBOND as at May 22, 2020

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