US 10 YEARS - W1 - DARK CLOUD COVER !
We are going to look at the weekly and daily time frames.
WEEKLY (W1)
Last week price action triggered a "Dark Cloud Cover" pattern (bearish !) with its weekly closing level
below the Tenkan-Sen and the cluster (Kijun-Sen & MBB) and also already within the weekly clouds support area.
RSI below 50, @ 47'98
This Dark Cloud Cover pattern neutralized the previous white candle (harami), I mentioned as a first warning signal in my previous analysis
(see related ideas below) and therefore the door is reopen to the downside towards former low of 1.34% first and then probably lower.
DAILY (D1)
Currently in an ongoing downtrend channel since the failure to upside breakout the clouds on a daily closing basis (Nov 29th).
Below the clouds, the Kijun-Sen, the MBB and the Tenkan-Sen.
RSI below 50 @ 42.44
The daily picture does not look very encouraging for the upcoming trading sessions and it is likely to see further downside towards 1.34% first and then
towards the bottom line of the ongoing downtrend channel.
38.2% Fib ret @ 1.22%, 50% @ 1.05% and 61.8% @ 0.88%
In order to neutralise this ongoing (yield) downside pressure the US 10 Years should recover at least above 1.50 % - 1.55 %
Ironman8848 & Jean-Pierre Burki
WEEKLY (W1)
Last week price action triggered a "Dark Cloud Cover" pattern (bearish !) with its weekly closing level
below the Tenkan-Sen and the cluster (Kijun-Sen & MBB) and also already within the weekly clouds support area.
RSI below 50, @ 47'98
This Dark Cloud Cover pattern neutralized the previous white candle (harami), I mentioned as a first warning signal in my previous analysis
(see related ideas below) and therefore the door is reopen to the downside towards former low of 1.34% first and then probably lower.
DAILY (D1)
Currently in an ongoing downtrend channel since the failure to upside breakout the clouds on a daily closing basis (Nov 29th).
Below the clouds, the Kijun-Sen, the MBB and the Tenkan-Sen.
RSI below 50 @ 42.44
The daily picture does not look very encouraging for the upcoming trading sessions and it is likely to see further downside towards 1.34% first and then
towards the bottom line of the ongoing downtrend channel.
38.2% Fib ret @ 1.22%, 50% @ 1.05% and 61.8% @ 0.88%
In order to neutralise this ongoing (yield) downside pressure the US 10 Years should recover at least above 1.50 % - 1.55 %
Ironman8848 & Jean-Pierre Burki
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