30 year treasury yield.
Price is within the 1985' downtrend channel, in this multi-year bull bond market.
Interestingly, price is boxed between the 100 and 200 weekly sma, trying to regain the main channel, holding an uptrend minor parallel, after correcting 50% retrace, from the 2012 low run, and completing a possible abc correction from a possible Elliot wave. It recently broke the 12/2013 downtrend_line.
MACD is below zero, but with a positive crossover, and RSI looks to curving out a bottom.
Potential Head and Shoulders pattern point to the 4.20 level. IF broken into the major uptrend channel, resistance could be found at the 50 sma level and 3/3 high at 3.74(~possible channel) and double top at 4.
With the recent Euro banking fears, treasuries have found some bid. Short term, basing on 3.26% zone is possible. Breaking this zone(also downtrend line), the price could fall to 3%-3.04%, triangle support ( and 61.8% retracement.).
Price is within the 1985' downtrend channel, in this multi-year bull bond market.
Interestingly, price is boxed between the 100 and 200 weekly sma, trying to regain the main channel, holding an uptrend minor parallel, after correcting 50% retrace, from the 2012 low run, and completing a possible abc correction from a possible Elliot wave. It recently broke the 12/2013 downtrend_line.
MACD is below zero, but with a positive crossover, and RSI looks to curving out a bottom.
Potential Head and Shoulders pattern point to the 4.20 level. IF broken into the major uptrend channel, resistance could be found at the 50 sma level and 3/3 high at 3.74(~possible channel) and double top at 4.
With the recent Euro banking fears, treasuries have found some bid. Short term, basing on 3.26% zone is possible. Breaking this zone(also downtrend line), the price could fall to 3%-3.04%, triangle support ( and 61.8% retracement.).