The 10 year has rebounded off the major 1M Support this month, making a statement with last week's strong 1W candle. This marked a Triple Top formation on the 1M scale (since 2012) and the trend shift becomes obvious. 1D is trading near overbought territory ( RSI
= 70.811) pushing the 1W towards neutrality ( RSI
= 42.781, ADX
= 58.406, Highs/Lows = 0.0000), detaching it from its previous bearish
We are expecting a major cyclical bullish
move in the next 2+ years towards at least 32.00. Shorter term investors should look towards the inner Channel Up (dashed lines) for pivotal sell/ buy entries.
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