2021/12/05 14:57 PM – US 10 YEARS – W1 – WATCH THE CLOUDS !

US 10 YEARS – W1 – WATCH THE CLOUDS ! by Ironman8848 on TradingView.com

Last week price action triggered a long black candle which broke on a weekly closis basis, both the Mid Bollinger Band and the Kijun-Sen or Base line.

Such kind of price action should be seen as a negative (yield ) signal, calling for lower levels.


In addition, the former uptrend support line which stated at the beginning of August @ 1.1270 has also been broken which also should be seen as an additionnal warning signal calling for further downside move with the focus on the bottom of the weekly clouds, currently around 1.15% which also roughly coincides with the cluster of former bottom and the primary uptrend support line.


Therefore, this 1.15%-1.10% next significant support area , on a weekly closing basis, should be seen as THE KEY PIVOT LEVEL !!!

MONTHLY PICTURE :

Looking briefly at this long term time frame, we can see that the cluster (Mid Bollinger Band and Kijun-Sen is also currently @ 1.1500 which corroborate my weekly view above mentioned.

A failure to hold above this point, would open the door for lower level towards 1.0570 (50% Fib ret) ahead of 0.8870 (61.8% Fib ret)

CONCLUSION :

Watch and monitor closely price action on a daily and intraday basis to detect early reversal signal (s) which for the time being should be seen as a corrective move in a broad ongoing (yield) bearish trend .

Ironman8848

Disclaimer :

All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. 

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