Weekly:
- Bearish Ichimoku setup softens a bit as Price retraces to first bearish support: Kijun Sen at 119'02. Next hard resistance is above around 119'21.
- Heikin-Ashi is bullish, but haOscillator reached its extreme high at 100! The pull back will likely lose momentum.
- EWO is bearish, but closer to zero neutral level.
- MACD shows bearish consolidation
- Lower supp/res line is marked by Tenkan Sen slightly below 118
Daily:
- Bullish Ichimoku setup
- Heikin-Ashi shows some softer momentum. Temporary top is possible, but this is still far from a short signal as Kijun is well below Price, providing healthy support around 117'23.
- EWO and MACD are bullish.
Since the weekly is the leading major time frame, I would defenately not buy it not. If it gets lifted agressively from here, then I'd be cautious seller in smaller clips above 119'05. Otherwise rather buy dips at daily supports.
Real sell signal would come only with a daily bearish Ichimoku reversal, but that seems to be far away. Most likely 5y Note will be trading in 118 - 119'15 range with upticks in coming weeks. It may take 2-3 more weeks before we see more confirming signals of consolidation on weekly, and a high probability local top.
- Bearish Ichimoku setup softens a bit as Price retraces to first bearish support: Kijun Sen at 119'02. Next hard resistance is above around 119'21.
- Heikin-Ashi is bullish, but haOscillator reached its extreme high at 100! The pull back will likely lose momentum.
- EWO is bearish, but closer to zero neutral level.
- MACD shows bearish consolidation
- Lower supp/res line is marked by Tenkan Sen slightly below 118
Daily:
- Bullish Ichimoku setup
- Heikin-Ashi shows some softer momentum. Temporary top is possible, but this is still far from a short signal as Kijun is well below Price, providing healthy support around 117'23.
- EWO and MACD are bullish.
Since the weekly is the leading major time frame, I would defenately not buy it not. If it gets lifted agressively from here, then I'd be cautious seller in smaller clips above 119'05. Otherwise rather buy dips at daily supports.
Real sell signal would come only with a daily bearish Ichimoku reversal, but that seems to be far away. Most likely 5y Note will be trading in 118 - 119'15 range with upticks in coming weeks. It may take 2-3 more weeks before we see more confirming signals of consolidation on weekly, and a high probability local top.