US GOV 10 Y - INTRADAY - TRADING IN THE ZONE !
H4 : Triangle target filled @ 1.6860 %.
Ongoing reversal in progress
Watch, on H4 closing basis, Mid Bollinger Band (@ 1.6280) as first support indicator
H1: After having briefly broken the uptrend channel (wrong breakout, doji top followed
by a long black candle ! the 10 Y is still in this ongoing uptrend channel with a first attempt
to downside breakout, which failed.
Below the support line of this channel there is a more important support zone to look at, which is
the clouds area with its bottom level, which coincides with the 38.2% Fib ret @ 1.6270
A failure to hold above that level would put the focus to lower level, 1.56 % being the level
of the triangle prolongation on H4 . If seen pullback would be achieved
M15 : A Head and Shoulder formation is in progress with its neckline broken.
Technical target is @ 1.56 % too
CONCLUSION :
Expected trading range 1.70-1.55 % on short term
Ongoing reversal in progress
Watch, on H4 closing basis, Mid Bollinger Band (@ 1.6280) as first support indicator
H1: After having briefly broken the uptrend channel (wrong breakout, doji top followed
by a long black candle ! the 10 Y is still in this ongoing uptrend channel with a first attempt
to downside breakout, which failed.
Below the support line of this channel there is a more important support zone to look at, which is
the clouds area with its bottom level, which coincides with the 38.2% Fib ret @ 1.6270
A failure to hold above that level would put the focus to lower level, 1.56 % being the level
of the triangle prolongation on H4 . If seen pullback would be achieved
M15 : A Head and Shoulder formation is in progress with its neckline broken.
Technical target is @ 1.56 % too
CONCLUSION :
Expected trading range 1.70-1.55 % on short term
