TNote future: Rebounds expected towards resistance around 125.20 - Natixis

Given that the daily stochastic has picked up and that daily volatility has stabilized, rebounds for TNote future are expected towards the resistance around 125.20 (daily parabolic), according to Micaella Feldstein, Research Analyst at Natixis.

Key Quotes

“A breakout above this level would undermine the descending channel in evidence in the daily chart, opening the way for a more pronounced rebound towards 126-126.02 (daily parabolic), 126 20 (Fibonacci extension) and the 127 20 threshold (daily Bollinger upper band).”

“On the other hand, a pullback below the supports around 124.24124.26 (lower band of daily Bollinger) would affect this scenario, sending a strong bearish signal towards the support at 123.20-123.22 (lower band of weekly Bollinger).”