US GOV BONDS 10 YR YIELD - M1/W1/D1 - POINTING TO THE SOUTH
M1 : After having nearly reached the 50% Fibonacci retracement of the 3.25% to 0.3620 %
move, high being 1.7740 % !, the ongoing current monthly price action is showing a potential
trend reversal in progress, which could trigger, tomorrow, on a monthly closing level, a "DARK CLOUD
COVER" (Wait for confirmation)
W1 : Double top price action in progress with its trigger level @ 1.5890 which has already be broken
several times so far but not confirmed yet !
A breakout confirmation of that level (1.5890 %), on a weekly closing level, would give a technical target of 1.4040 %.
Important to note that the level of D1 Mid Bollinger Band i@ 1.3490 % and a move below that level
would be the second validation signal of this double top formation.
VERY STRONG SUPPORT ZONE BELOW BEING THE CLOUDS AREA !!!
D1 : Despite the yesterday's breakout attempt, the ongoing downtrend (in yield) price action is still, for the time being, intact, calling
if 1.5890 is broken,for the target above mentioned of 1.4040 %.
ALSO VERY IMPORTANT TO NOTE THAT THE LEVEL OF THE DOUBLE TOP TARGET AT 1.4040 % COINCIDES WITH THE D1 BOTTOM CLOUDS SUPPORT
LEVEL !!!
On the upside, the ongoing downtrend resistance line should be seen as the first important level to break and this on a D1 closing basis !
In case of a confirmation of this breakout, we may see a retest of former high 1.70-1.77 which should, if seen provide, again, good selling (yield) opportunities.
Watch intraday shorter time frames, (H4,H1 and M15) to get intermediate signal (s), such as divergence (s) which would allow you to adapt your trading plan
in acting accordingly.
Have a nice trading day.
All the best, take care.
And last but not least, if you find my technical analysis valuable for your trading, please do not forget to like it and if not done yet add me on your following list.
Ironman8848 :-)
move, high being 1.7740 % !, the ongoing current monthly price action is showing a potential
trend reversal in progress, which could trigger, tomorrow, on a monthly closing level, a "DARK CLOUD
COVER" (Wait for confirmation)
W1 : Double top price action in progress with its trigger level @ 1.5890 which has already be broken
several times so far but not confirmed yet !
A breakout confirmation of that level (1.5890 %), on a weekly closing level, would give a technical target of 1.4040 %.
Important to note that the level of D1 Mid Bollinger Band i@ 1.3490 % and a move below that level
would be the second validation signal of this double top formation.
VERY STRONG SUPPORT ZONE BELOW BEING THE CLOUDS AREA !!!
D1 : Despite the yesterday's breakout attempt, the ongoing downtrend (in yield) price action is still, for the time being, intact, calling
if 1.5890 is broken,for the target above mentioned of 1.4040 %.
ALSO VERY IMPORTANT TO NOTE THAT THE LEVEL OF THE DOUBLE TOP TARGET AT 1.4040 % COINCIDES WITH THE D1 BOTTOM CLOUDS SUPPORT
LEVEL !!!
On the upside, the ongoing downtrend resistance line should be seen as the first important level to break and this on a D1 closing basis !
In case of a confirmation of this breakout, we may see a retest of former high 1.70-1.77 which should, if seen provide, again, good selling (yield) opportunities.
Watch intraday shorter time frames, (H4,H1 and M15) to get intermediate signal (s), such as divergence (s) which would allow you to adapt your trading plan
in acting accordingly.
Have a nice trading day.
All the best, take care.
And last but not least, if you find my technical analysis valuable for your trading, please do not forget to like it and if not done yet add me on your following list.
Ironman8848 :-)
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