JICPT|10Y Yield challenges 1.5% with crude oil up and NQ down!
Hello everyone. The US 10Y yield formed a really big bullish candle on last Thursday, with Fed didn't take any action on tapering.
On the daily chart of the yield, we can clearly see that it firmly left the 1.3% bottom level. If it conquers 1.5% level, 1.7% and previous high would be retested then. The good economic outlook and inflation pressure is the main driver of the yield hike.
What's the impact of the rising yield? We all saw how market responded to the yield surge back in Feb. No wonder NQ got some pressure today. But I don't think NQ will be like that. Buy-the-dip strategy still works in my opinion.
What about crude oil? I'm bullish, though, the 77-75 bearish structure may take some time for buyers to retake.
What do you think? Give me a like if you're with my view.
Thank you for your support.
On the daily chart of the yield, we can clearly see that it firmly left the 1.3% bottom level. If it conquers 1.5% level, 1.7% and previous high would be retested then. The good economic outlook and inflation pressure is the main driver of the yield hike.
What's the impact of the rising yield? We all saw how market responded to the yield surge back in Feb. No wonder NQ got some pressure today. But I don't think NQ will be like that. Buy-the-dip strategy still works in my opinion.
What about crude oil? I'm bullish, though, the 77-75 bearish structure may take some time for buyers to retake.
What do you think? Give me a like if you're with my view.
Thank you for your support.
Comment:
The US Treasury yield met with selling pressure from the grey zone marked as expected. It looks that 1.5% serves as a battle zone.
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