Treasury Five-Year Futures May Extend Record: Technical Analysis
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Treasury five-year futures are poised to extend gains to a new record after breaking through a level of so-called resistance, Credit Suisse Group AG said, citing trading patterns.
The advance of the securities past their June 1 high of 124 5/8 yesterday “signals bullish continuation,” according to analysts including David Sneddon, head of technical-analysis research in London. The contract is set to advance toward another resistance level at 125 1/8 before climbing to 125 23/32, the analysts said, citing Fibonacci theory.