US GOV BONDS 10 YR YIELD - THE TREND IS YOUR FRIEND...
M1 : Ongoing bearish (yield) price action, currently below KS.
W1 : Ongoing breakout progress of the MBB important support level (1.5160)
D1 : Currently below the clouds and testing the bottom line support of the ongoing
downtrend channel
H4 : Far below the clouds area and below all indicators, (KS, MBB and TS)
H1 : Failure to recover above the clouds (1.5320) triggered a renewal selling pressure
As for H4 below the clouds ad below the cluster
M30 : Currently trying to recover above both TS and MBB (RSI bullish divergence !)
M15 : RSI bullish divergence. Recovery above MBB in progress
M5 : Currently attempting to confirm a clouds breakout
CONCLUSION :
ONGOING BROAD BEAR (Yield) TREND; SHORT TERM TIME FRAMES ARE PROVIDING
TACTICAL CORRECTIVE MOVE WHICH ARE EXPECTED TO BE PRETTY LIMITED.
LOOKING FORWARD AND IN ORDER TO NEUTRALISE THIS ONGOING DOWNSIDE RISK CALLING
FOR FURTHER DOWNSIDE TOWARDS, AT LEAST THE 1.30 AREA (1.3280 being the KS and 1.2890 being the 38.2% Fib ret
of the 0.5040-1.7740 rally), the 10 Years should first recover above the ongoing downtrend line resistance in place on M1,W1 and D1,
which is currently around 1.65/1.70: ONLY A SUSTAINABLE MOVE ABOVE THAT AREA WOULD FORCE TO A VIEW REASSESSMENT OF THE EXPECTED
BEARISH (yield) SCENARIO.
Next important support level being @ 1.1390 (top of the W1 clouds support area and also the 50 % Fib ret of the rally above
mentioned.
Have a nice trading day
All the best, take care and have fun
Ironman8848
W1 : Ongoing breakout progress of the MBB important support level (1.5160)
D1 : Currently below the clouds and testing the bottom line support of the ongoing
downtrend channel
H4 : Far below the clouds area and below all indicators, (KS, MBB and TS)
H1 : Failure to recover above the clouds (1.5320) triggered a renewal selling pressure
As for H4 below the clouds ad below the cluster
M30 : Currently trying to recover above both TS and MBB (RSI bullish divergence !)
M15 : RSI bullish divergence. Recovery above MBB in progress
M5 : Currently attempting to confirm a clouds breakout
CONCLUSION :
ONGOING BROAD BEAR (Yield) TREND; SHORT TERM TIME FRAMES ARE PROVIDING
TACTICAL CORRECTIVE MOVE WHICH ARE EXPECTED TO BE PRETTY LIMITED.
LOOKING FORWARD AND IN ORDER TO NEUTRALISE THIS ONGOING DOWNSIDE RISK CALLING
FOR FURTHER DOWNSIDE TOWARDS, AT LEAST THE 1.30 AREA (1.3280 being the KS and 1.2890 being the 38.2% Fib ret
of the 0.5040-1.7740 rally), the 10 Years should first recover above the ongoing downtrend line resistance in place on M1,W1 and D1,
which is currently around 1.65/1.70: ONLY A SUSTAINABLE MOVE ABOVE THAT AREA WOULD FORCE TO A VIEW REASSESSMENT OF THE EXPECTED
BEARISH (yield) SCENARIO.
Next important support level being @ 1.1390 (top of the W1 clouds support area and also the 50 % Fib ret of the rally above
mentioned.
Have a nice trading day
All the best, take care and have fun
Ironman8848
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.