US10Y - D1 - POTENTIAL DOUBLE TOP IN PROGRESS !
D1 : Recent recovery seen over the last couple of days is triggering a potential double top formation in progress.
(trigger level to confirm this pattern @ 1.3860 and target 1.1890 which is also currently the level of the trend
support line which started in August 2020 and also to some extend the clouds support area.
RSI is also showing a bearish divergence in progress (wait for confirmation)
A failure to hold above Tenkan-Sen (conversion line @ 1.4560) would be one the firs signal of a trend reversal)
Global
Watch H4 and shorter time frames for clues
(trigger level to confirm this pattern @ 1.3860 and target 1.1890 which is also currently the level of the trend
support line which started in August 2020 and also to some extend the clouds support area.
RSI is also showing a bearish divergence in progress (wait for confirmation)
A failure to hold above Tenkan-Sen (conversion line @ 1.4560) would be one the firs signal of a trend reversal)
Global
Watch H4 and shorter time frames for clues
Trade active:
Ongoing bearish (yield) price action with a bearish engulfing pattern in progress, coupled with technical indicators also showing bearish divergences in progress.
A breakout confirmation of 1.3860 %, trigger level of the potential double top and also roughly the Mid Bollinger Band level, would open the door for a technical targe of 1.15 %.
Interesting to note that on a weekly basis, the 78.6% Fib ret (0.36 %-1.9720 %) @ 1.6270 % has nearly been filled last week with a high @ 1.6220 %.
A breakout confirmation of 1.3860 %, trigger level of the potential double top and also roughly the Mid Bollinger Band level, would open the door for a technical targe of 1.15 %.
Interesting to note that on a weekly basis, the 78.6% Fib ret (0.36 %-1.9720 %) @ 1.6270 % has nearly been filled last week with a high @ 1.6220 %.
