Panic Sends 10 Year Note To New Highs

10 Year Note Futures---The 10 year note in the June contract is trading higher for the 2nd consecutive session up 15 ticks at 124 / 29 looking to break the contract high which was hit on March 27th at 124/31 in my opinion. I have been recommending a bullish position from around the 124 /15 level as I will be adding more contracts to the upside if we close above 124 /31 while then placing the stop loss under the 2 week low which stands at 124 /01 as the risk/reward is in your favor due to the outstanding chart structure.

The volatility in the 10 year still remains very low as we just grind higher on a weekly basis and if you look at the daily chart the trendline remains intact while still trading above the 20 and 100 day moving average as the trend clearly is to the upside.

Fundamentally speaking there are major concerns about Brexit and the trade war with China coupled with the fact we're experiencing extremely low inflation rates as deflation seems to be more of a problem so stay long.

The yield on the 10 year note stands at 2.33% as I think we could trade as low as 2% in the coming months ahead due to strong demand.

TREND: ---HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY: LOW

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