Top Technical Trading Commentary for Bonds
Bonds just broke down from a bull wedge pattern. We emphasize in our courses that wedge patterns don't always break out in the direction they are supposed to. ZN has continued the retracement from the corrective Elliott Wave, which may suggest a complete trend reversal. Watch for 138'23 to confirm this. The Kovach Chande has turned bearish, and the Kovach OBV is just starting to turn from neutral to bearish.
Watch for support at 138'28. Today seems pretty risk on by way of the jobs numbers and increased hopes of a Coronavirus vaccine.
Watch for support at 138'28. Today seems pretty risk on by way of the jobs numbers and increased hopes of a Coronavirus vaccine.
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