US10Y 1D RSI Bearish Divergence signals a long-term sell.

7 ngày trước

The U.S. Government Bonds 10YR Yield (US10Y) has been trading within a Channel Down pattern since the December 27 2023 Low. The price is above both the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line) and is approaching the patterns top.

The 1D RSI is already making a bearish reversal though, having posted Lower Highs against the price's Higher Highs, which technically is a Bearish Divergence. As a result, we expect the Bullish Leg to top soon and then reverse to the Channel's new Bearish Leg.

The previous one made a Lower Low at the bottom of the pattern on the 1.2 Fibonacci extension level and as a result our Target is just above it at 3.500%.

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