TNOTE5Y closes higher for the 3rd day in a row

U.S. 5 Year T-Note (TNOTE5Y) Technical Analysis Report for Jan 23, 2020 | by Techniquant Editorial Team


TNOTE5Y pushes through key technical resistance level
TNOTE5Y rises to highest close since December 3, 2019
TNOTE5Y closes higher for the 3rd day in a row
TNOTE5Y pushes through Wednesday's high


Moving higher for the 3rd day in a row, TNOTE5Y finished Thursday at 119.242 gaining $0.133 (0.11%). Today's close at 119.242 marks the highest recorded closing price since December 3, 2019. Closing above Wednesday's high at 119.156, the contract confirmed its breakout through the prior session high after trading up to $0.227 above it intraday.

Daily Candlestick Chart (TNOTE5Y as at Jan 23, 2020):

Daily technical analysis candlestick chart for U.S. 5 Year T-Note (TNOTE5Y) as at Jan 23, 2020

Thursday's trading range has been $0.274 (0.23%), that's slightly above the last trading month's daily average range of $0.254. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for TNOTE5Y.

Buyers managed to take out the key technical resistance level at 119.164 (now S1), which is likely to act as support going forward. The last time this happened on Tuesday, TNOTE5Y gained 0.01% on the following trading day.

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

With prices trading close to this year's high at 119.523, upside momentum could accelerate should the market be able to break out to new highs for the year.

With four out of the other four Bond Markets closing higher today, the ones that stand out on the positive side are TBOND gaining 0.51% and BUND closing 0.31% higher. None of the markets ended the day in the red. Read more

Market Conditions for TNOTE5Y as at Jan 23, 2020

Loading Market Conditions for TNOTE5Y (U.S. 5 Year T-Note)...
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