10 Yr Yields - Potential BreakdownStructure:
(-) In a downward channel
(-) Broke long-term uptrend
(-) Lower highs, lower lows
(-) Negative bias under 18 MA, 50 MA and 100 MA
(-) Looming "death cross" of 50 MA under the 100 MA
Indicators:
(-) Falling momentum, but oversold
Macro:
(+) Strong Dollar
(+) Fear is coming out out of the market from last FOMC
(?) Friday jobs report
Target: 200 MA @ $1.27
Bull contra case:
Yesterday's price action could be a fake out and could move higher to $1.62
Would need to break through several moving averages
Bullish divergence with slow stochs