Volume could follow with lower interest rates. On March 21, the benchmark 10-year US Treasury yield slipped more than 3 basis points to 4.20%, and the 2-year Treasury yield was more than 2 basis points lower at 3.929%. Market observers attributed the decline to ongoing uncertainty looming over the US economy and inflation levels as President Donald Trump presses ahead with his trade tariff campaign.
The FTSE REIT Index is challenging a several-times tested resistance at 633. The time may finally be at hand for the FTSE REIT Index to attempt a breakout as short- and medium-term indicators appear to have strengthened.
However, volume is absent and volume needs to expand for prices to breakout. The next resistance, following a successful breakout, is likely to appear at 690, representing a short-term upside of 9%.
