US30YEARS-W1/D1-PULLBACK HOLD TOO !
WEEKLY (W1)
Last week price action triggered three important information :
1) a pullback followed by a nice recovery
2) a weekly closing for the first time just above the clouds
but...
3) an hanging man pattern (usually "bearish"" ) and which should be validated or invalidated by the next weekly candle !
The 50 % Fibonacci retracement ƒ 2.0890 % has been filled.
For the upcoming week, watch the clouds area which was the former resistance and which became now the new support zone; have also a look
at the former downtrend line resistance, currently @ 2.00% ahead of the ongoing uptrend line support around 1.88 % which is also by the way
the weekly clouds bottom level !
On the upside, a successful capacity to hold above the weekly clouds would open the door for higher levels towards the 61.8% Fib ret @ 2.4140% which
was the former congestion top (2.41%-2.51%) reached in March 2021
DAILY (D1)
Nice pullback which hold and a long white candle (bullish engulfing pattern) triggered on last Friday with a closing level roughly at the top of the day; nevertheless, as for the 10 years,
there is also a small bearish divergence on the RSI and the price action over the coming session (s) should be monitored very closely to check the validation of invalidation of this important information.
As for the weekly picture, a daily closing below the 2.00 % area should also be seen as a warning signal for a potential trend reversal.
On the upside, a breakout, on a daily closing basis, of the 2.1770 %, (former high of october 8th 2021) would also confirm further upside in the cards towards the 61.8% Fib ret @ 2.41% mentioned in the weekly view.
Ironman8848 & Jean-Pierre Burki
Last week price action triggered three important information :
1) a pullback followed by a nice recovery
2) a weekly closing for the first time just above the clouds
but...
3) an hanging man pattern (usually "bearish"" ) and which should be validated or invalidated by the next weekly candle !
The 50 % Fibonacci retracement ƒ 2.0890 % has been filled.
For the upcoming week, watch the clouds area which was the former resistance and which became now the new support zone; have also a look
at the former downtrend line resistance, currently @ 2.00% ahead of the ongoing uptrend line support around 1.88 % which is also by the way
the weekly clouds bottom level !
On the upside, a successful capacity to hold above the weekly clouds would open the door for higher levels towards the 61.8% Fib ret @ 2.4140% which
was the former congestion top (2.41%-2.51%) reached in March 2021
DAILY (D1)
Nice pullback which hold and a long white candle (bullish engulfing pattern) triggered on last Friday with a closing level roughly at the top of the day; nevertheless, as for the 10 years,
there is also a small bearish divergence on the RSI and the price action over the coming session (s) should be monitored very closely to check the validation of invalidation of this important information.
As for the weekly picture, a daily closing below the 2.00 % area should also be seen as a warning signal for a potential trend reversal.
On the upside, a breakout, on a daily closing basis, of the 2.1770 %, (former high of october 8th 2021) would also confirm further upside in the cards towards the 61.8% Fib ret @ 2.41% mentioned in the weekly view.
Ironman8848 & Jean-Pierre Burki
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