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Technical Analysis: Markit-iBoxx $ Treasuries 3-7 index: toward news highs

CALCOLATRICE

Technical Commentary: The Markit-iBoxx $ Treasuries 3-7 index represents the evolution of a basket of treasury bonds issued by the American state....


Day By Day – Indipendent Research


…the bonds’ maturity is from 3 to 7 years long.
This index is registered in a bullish channel that started after a long bullish trend (not shown on this chart). We do not acknowledge any element that could jeopardize this trend. We therefore have a midterm bullish opinion.
 
16042012

Anticipation  :

On the short term side, the February-Marchcorrection ended on the bullish 200-day moving average.The current bounce should allow joining, at first, the previous highs at 194.2. A second move could allow a higher target at 195.4, at the top of the bullish channel.

We are therefore positive in the short term with a target at 195.4 and a stop loss below 192.1.

Close price 193.18

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 194,2 / 195,4 pts
Supports 192,1 / 189,1 pts


Follow-up Analysys: Last we recommended the South Africa FTSE JSE Top40 index related ETFs. The index bounced off its 29 575 points support and we maintain our positive opinion with a target at 30647 points.

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Source: ETFWorld – Day By Day – Indipendent Research