US 10 YEARS -W1/D1 - DB TARGET @ 1.6500
WEEKLY :
Double bottom (@1.1270) gives a technical target @ 1.65 %; it has nearly been filled with a high so far @ 1.6150
Interesting to note that current level coincides with the former congestion top seen early this year between April and May.
Therefore, this 1.6000/1.6500 area may this time trigger the second top and should be watch at very carefully !
DAILY :
The upside breakout of the triangle pattern around 1.3900 which also coincided roughly with the daily top clouds triggered an upside
acceleration with a small consolidation.
Note the RSI which is currently in a bearish divergence mode (wait for confirmation)
As long as the US 10 Y stays and hold above TS, it is fine for further upside towards former March high @ 1.774 (50 % Fib ret @ 1.8060) ... but a failure to do it, would directly put the focus on the next support level
around 1.35/1.45 former resistance area which becomes now the new support zone.
As usual, watch an monitor closely price action on shorter intraday time frames to get intermediate clues for the upcoming trading sessions.
Have a nice week
All the best
Ironman8848
Double bottom (@1.1270) gives a technical target @ 1.65 %; it has nearly been filled with a high so far @ 1.6150
Interesting to note that current level coincides with the former congestion top seen early this year between April and May.
Therefore, this 1.6000/1.6500 area may this time trigger the second top and should be watch at very carefully !
DAILY :
The upside breakout of the triangle pattern around 1.3900 which also coincided roughly with the daily top clouds triggered an upside
acceleration with a small consolidation.
Note the RSI which is currently in a bearish divergence mode (wait for confirmation)
As long as the US 10 Y stays and hold above TS, it is fine for further upside towards former March high @ 1.774 (50 % Fib ret @ 1.8060) ... but a failure to do it, would directly put the focus on the next support level
around 1.35/1.45 former resistance area which becomes now the new support zone.
As usual, watch an monitor closely price action on shorter intraday time frames to get intermediate clues for the upcoming trading sessions.
Have a nice week
All the best
Ironman8848
