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Last week I wrote that treasuries were moving towards a Gann fan angle low and possibly support.  Today the 10 Year Treasury almost reached that fan angle.  Yield moved below 3.5% and very close to the 1×2 angle near 3.4% yield.  The angle should provide support but is not an absolute.   Should yield continue down then the 50 percent retrace level at 3.24% is the next level to watch for support.

The 30 Year Treasury has more to fall before hitting the 1×2 angle of the range from December to June.  The 1×2 angle is near 4% which would be a 20 percent change in yields from the high near 5%.

Related Posts

• Weekend Outlook – 13Dec09 (December 14, 2009)
• Weekend Outlook – 06Dec09 (December 7, 2009)
• Weekend Outlook – 22Nov09 (November 23, 2009)
• Weekend Outlook – 10Oct09 (October 10, 2009)
• Treasury Bonds Swing Down on Charts (October 6, 2009)

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