TNote future: Rallies should be short lived - Natixis

In view of Micaella Feldstein, Research Analyst at Natixis, the break below the 124.23-124.25 thresholds has deteriorated the daily technical pattern for TNote future.

Key Quotes

“Besides, the increase in the daily volatility and the sell signals on the daily indicators also underline our bearish feeling.”   

“Against this backdrop, rallies should be short lived and we fear a new leg lower to 124.16-124.18 (rising trendline) whose break would open the door to 124.10 (weekly Bollinger lower band), to 124.06 (Fibonacci extension) and the 124 level.”  

“Note that only a return above the resistances at 125.09 (daily Bollinger moving average) would affect this bearish view.”