Jim Wyckoff

Mon, Jun 23, 2025, 7:06 AM2 min read

September U.S. Treasury bond futures (ZBU25) a buying opportunity on more price strength.

See on the daily bar chart for September U.S. T-Bond futures that prices are in a four-week-old uptrend. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator is in a bullish posture as the red MACD line is above the blue trigger line and both lines are trending up. The T-Bond bulls have the near-term technical advantage to suggest still more price upside in the near term.

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Fundamentally, risk appetite in the general marketplace is not robust and the weekend U.S. attack on Iran’s nuclear sites suggests risk aversion will remain elevated for at least the near term. That’s bullish for safe-haven U.S. Treasuries.

A move in September T-Bond futures above chart resistance at the June high of 114 30/32 would become a buying opportunity. The upside price objective would be 120 even or above. Technical support, for which to place a protective sell stop just below, is located at 113 even.

IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature.

Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%):

Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.

On the date of publication, Jim Wyckoff did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com