Last week price action triggered, as for the US 10 years, a long black candle which in this case also broke the weekly bottom clouds
support level @ 1.85.
The US 30 years is currently on an ongoing downtrend channel, very close to the 50 % Fibonacci retracement @ 1.6130 (0.71-2.5160); RSI below 50 @ 34.04.
Watch closely price ongoing price action and monitor closely the Lagging line which for the time being, after having successively broken the Mid Bollinger Band and the Kijun-Sen is
still above the clouds !!!
A failure, for the Lagging line to close on the next weekly closing basis above the clouds would add further pressure to the downside in putting the focus for lower levels towards the next
significant support area around 1.40% which is also the 61.8% Fibonacci retracement.
CONCLUSION :
As for the US 10 years, watch and monitor closely price action on a daily and intraday basis to detect early reversal signal (s) whihc for the time being should be seen as a corrective move in broad ongoing (yield) bearish trend.
Ironman8848
support level @ 1.85.
The US 30 years is currently on an ongoing downtrend channel, very close to the 50 % Fibonacci retracement @ 1.6130 (0.71-2.5160); RSI below 50 @ 34.04.
Watch closely price ongoing price action and monitor closely the Lagging line which for the time being, after having successively broken the Mid Bollinger Band and the Kijun-Sen is
still above the clouds !!!
A failure, for the Lagging line to close on the next weekly closing basis above the clouds would add further pressure to the downside in putting the focus for lower levels towards the next
significant support area around 1.40% which is also the 61.8% Fibonacci retracement.
CONCLUSION :
As for the US 10 years, watch and monitor closely price action on a daily and intraday basis to detect early reversal signal (s) whihc for the time being should be seen as a corrective move in broad ongoing (yield) bearish trend.
Ironman8848