T-bonds

Here is an hourly chart of December T-bond futures. I last commented on this market here.

I think the market is being supported in the zone between a previous high at 112-20 and 112-28 which is the level at which the current break from 113-19 will equal the size of the last reaction from 113-05 to 112-14. The midpoint between these two levels is 112-24 and so far that is where the market has halted.

I think the next swing will carry up to 113-30.