Another reason, why you can't be bullish on US fixed income
When you can't see clearly and you are undecided, make one step back.
As I found weekly and daily charts conflicting and unclear, I decided to pull out US 5y T-Note futures Monthly chart.
- Ichimoku is confirmed bearish! Tenkan Sen (9 months avg) and Senkou lines (forward Kumo components) all point lower.
- Heikin-Ashi pattern -> consolidation
- MACD and EWO are bearish
- Pattern: bear flag. If broken, then measured target will be 112'00 !
Very simple: lower key zone is 118'00 - 118'10, in line with daily supports. Once it breaks, you can go massive short!
As I found weekly and daily charts conflicting and unclear, I decided to pull out US 5y T-Note futures Monthly chart.
- Ichimoku is confirmed bearish! Tenkan Sen (9 months avg) and Senkou lines (forward Kumo components) all point lower.
- Heikin-Ashi pattern -> consolidation
- MACD and EWO are bearish
- Pattern: bear flag. If broken, then measured target will be 112'00 !
Very simple: lower key zone is 118'00 - 118'10, in line with daily supports. Once it breaks, you can go massive short!
