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Technical Analysis: iBoxx $ Treasuries 3-7Y: continuation of the dynamics

The iBoxx $ Treasuries 3-7Y index is representativeof a basket of U.S. government bonds   ....


Day By Day – Indipendent Research


… («Treasuries»)with maturities ranging from 3 To 7 years. It presents a clearly bullish dynamic materialized by a succession of ascending peaks and troughs supported by the100-day moving average. We have, for the moment, nothing that calls into question the trend so we are positive in the medium-term.
 
17012012_1

Anticipation  :
In the short-term, having consolidated within a rectangle pattern for nearly five months, the impulse constructed from the major support at 189.10 points allowed prices to break above the 192,25 point resistance, which had been tested several times. The consolidation has ended and leaves room for a continued rise in future sessions.
We are therefore short-term positive, and envision a rallying towards the resistance at 195.43 points (the theoretical target of the rectangle – blue arrows) with an intermediate target of 194.24 points.
We set the invalidation threshold for this positive scenario slightly below the support at 191.43 points.

Close price192.89

2 months OpinionBULLISH
2 weeks OpinionPOSITIVE

Resistances194,24 / 195,43 pts
Supports191,43 / 189,1 pts


Follow-up Analysys: The tracker dated 09/01/2012 recommended the purchase of the Stoxx Europe 600 Travel & Leisure. Since then, prices continue to rise and are approaching our target of 117.50 points, or a latent performance of 1.6%.

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Source: ETFWorld – Day By Day – Indipendent Research

 

 

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