Weekly:
- Major trend and Ichimoku setup is still bullish, but as averages started to flatten out, we may see some longer consolidation phase, without substantial higher highe in price (lower low in yields).
- Counter buélish Heikin-Ashi signal star5ted to weaken: see haDelta, which may cross down. haOscillator is still below zero, but this is mainly due to previous contract change discount.
- MACD and EWO both show range consolidation is most likely in coming weeks/months.
- Supports: 164,93 / 161,60. Upper resistance is 168, but Dec contract is very unlikely to reach it (due to cheapest to delivery cash bond yield), so for Dec contract real resistance is 166,25.
Daily:
- Ichimoku distorsions we've discussed few times already, still for market 165,48 "equilibrium" supp/res represented by Kijun and Senkou B is very important.
- Heikin-Ashi candle turns red at bearish Kumo support and 100wma, but bearishness is not yet fully confirmed by haDelta and haOscillator. Momentum could pick up only if price breaks below Kijun and quantification indicators close below their zero lines.
- EWO is neutral.
Strategy: while you also have to follow the yield chart, not only futures price chart, I think best strategy is stay neutral, or half size shorts (selling into intraday spikes) with a clear stop loss above 166,35.
- Major trend and Ichimoku setup is still bullish, but as averages started to flatten out, we may see some longer consolidation phase, without substantial higher highe in price (lower low in yields).
- Counter buélish Heikin-Ashi signal star5ted to weaken: see haDelta, which may cross down. haOscillator is still below zero, but this is mainly due to previous contract change discount.
- MACD and EWO both show range consolidation is most likely in coming weeks/months.
- Supports: 164,93 / 161,60. Upper resistance is 168, but Dec contract is very unlikely to reach it (due to cheapest to delivery cash bond yield), so for Dec contract real resistance is 166,25.
Daily:
- Ichimoku distorsions we've discussed few times already, still for market 165,48 "equilibrium" supp/res represented by Kijun and Senkou B is very important.
- Heikin-Ashi candle turns red at bearish Kumo support and 100wma, but bearishness is not yet fully confirmed by haDelta and haOscillator. Momentum could pick up only if price breaks below Kijun and quantification indicators close below their zero lines.
- EWO is neutral.
Strategy: while you also have to follow the yield chart, not only futures price chart, I think best strategy is stay neutral, or half size shorts (selling into intraday spikes) with a clear stop loss above 166,35.
