Long bond futures have broken three downward sloping trendlines establishing higher lows, and at the same time are consolidating in a narrow range just above the purple SMA which kept lid on prices since mid March when the last leg down started. Note that three SMA's of different degrees are in bullish position, i.e. lower time frame SMA is above higher time frame SMA. Also note that RSI has been able to defend 50 level on recent pullback.
Expect acceleration to the upside, add to the position and become aggresive on the breakout of 142 level.
Expect acceleration to the upside, add to the position and become aggresive on the breakout of 142 level.