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December T-bonds were lower overnight as they consolidates some of the rally off Monday's low. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 160-05 would signal that a short-term low has been posted. If December resumes the decline off September's high, the 75% retracement level of the March-August rally crossing at 155-23 is the next downside target. First resistance is the 20-day moving average crossing at 160-05. Second resistance is the 50-day moving average crossing at 161-28. First support is the 62% retracement level of the 2020-2021-rally crossing at 157-13. Second support is the June 16th low crossing at 156-15.

December T-notes were lower overnight as they consolidates some of the rally off Monday's low. Overnight weakness sets the stage for a steady to lower opening with the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 131.264 would temper the near-term bearish outlook. If December renews the decline off August's, the 87% retracement level of the March-August rally crossing at 130.207 is the next downside target. First resistance is the 20-day moving average crossing at 131.264. Second resistance is the October 4th high crossing at 132.085. First support is the 87% retracement level of the March-August rally crossing at 130.207. Second support is March's low crossing at 130.010.