30-yr UST: The Long Bond is gonna get heavy
Early signs of topping on ZB futures. Distribution candles on the top, and failing yet again at familiar spot. Setup is not yet confirmed by RSI or MACD, though, and the long bond bounced a bit off the MA(9).
I'm inclined to open half of my position here. A daily close below MA(9) would lead me to open the second half of the short on ZB, targetting MA(200), around 156'00 at current times.
A breakdown below MA(200) is in the cards if Crude Oil (related idea) goes above 35$. Otherwise, good to hop on some ZBs for risk-off trading!
I'm inclined to open half of my position here. A daily close below MA(9) would lead me to open the second half of the short on ZB, targetting MA(200), around 156'00 at current times.
A breakdown below MA(200) is in the cards if Crude Oil (related idea) goes above 35$. Otherwise, good to hop on some ZBs for risk-off trading!
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