10 Year Note Futures—The 10 year note in the March contract settled last Friday in Chicago at 131/24 while currently trading at 134/16 up sharply for the trading week hitting an all-time high as the U.S stock market has absolutely plunged sending money flows into the entire bond sector.
I have been recommending a bullish position over the last month from the 129 /18 level if you took that trade continue to place the stop loss under the 10-day low which stands at 130 /23 as the chart structure will not improve for another 2 trading sessions so you will have to accept the monetary risk at this time.
The yield at the present time stands at 1.17% which is remarkable in my opinion as we have now traded higher for 7 consecutive sessions as there is absolute sheer panic in world markets and until some type of clarity about the Coronavirus comes about bonds still look to move higher.
In my opinion I think we could trade below the 1% level in the coming weeks ahead as the Federal Reserve certainly is going to lower interest rates so stay long as this is the strongest trend at the present time.
CHART STRUCTURE: POOR
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