US10Y Still room to rise but be ready to short the top.

19 de mai. de 2023

The U.S. Government Bonds 10YR Yield (US10Y) hit the downside target on our previous signal (see idea below) and is currently rising again:

Being above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), we see the potential of a diverging Channel Down to emerge and establish itself (dotted lines). The completion of a 1D Death Cross, the first since August 25 2021, ensures that the long-term trend remains bearish. As a result, buy the rest of this bullish Lower High leg and be ready to sell again at the top of the original (blue) Channel Down.

If the 1D RSI gets rejected on the dashed Lower Highs trend-line, consider the potential of an early top and sell again. Our target for end of July is 3.150%.

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