As interest rates continue to rise, existing bond values have fallen over the last year and a half. It looks as though the Fed will continue to raise rates at a slower (25 bps) pace than last year, which will still create some downward pressure on bond prices. However, as prices are falling and yields are increasing, this makes these entry points extremely...
RSI gave the earlier signal with the bearish crossover, MACD did the additional confirmation. It was important to see the price action as well. Recent highs were sold and Yesterday we finished in negative territory. Volume spike suggests that there was profit closing with an attempt to buy the dip. Selling is minimal, though if the picture continues to deteriorate...
Friday closed the 3rd leg of the bullish morning star reversal pattern. I plan to get in bullish at the break above $29 with STOP around 28.46. Bullish engulfing candle as well on Friday. Overhead resistance around 29.75.