deBrinks doMain

Monday, June 25th

On the economic calendar:-

08:30 Chicago Fed National Activity Index

10:00 New Home Sales (Consensus 350 K - Prior 343 K)

10:15 Fed Outright Treasury Coupon Sales up to $8.75 billion

10:30 Dallas Fed Mfg Survey (Consensus 0.0 - Prior -5.1)

11:00 4 Week Bill Announcement

11:30 3 & 6 Month Bill Auctions

Prices strengthened overnight from an opening low of 148’01 up to a high of 148’24 earlier this morning. The 30 minute trend remains bearish, with a close above 148’23 flipping the trend bullish.

Prices have been in a feel defined range the last couple of sessions, with 150’10 being the upper end, and 147’19 being the lower end of the range.

As well as being in a range, prices are also caught in a wedge, and it seems that a breakout is imminent.

Price support and resistance remain unchanged.