The worst days for the economy could still be ahead of us, according to Fed Chair Powell and Treasury Secretary Mnuchin. Traders following Fed policy could look to interest rate products like the US Treasury Bond to express views in the futures market as the six month view of US Treasury Bonds displays strength during this recent up-trend, per Charles Schwab.
Key quotes
“182 is the key resistance level to break on the upside with no material resistance above this level as prices would be testing all-time highs.”
“Support is found at 177-14 and would be a significant break. Downward target would be the 170 level should weakness resume in the Bond market.”
“Moving averages have again turned positive. Stochastic RSI is drifting into the overbought area and could indicate momentum of buyers stepping in buying up recent dips.”
Share
