Zn!1
Top Trading Ideas for BondsBonds have almost completely retraced June's decline. They have faced resistance, however at almost all of the Fibonacci levels we have spelled out earlier. The Kovach Momentum Indicators have turned positive, validating this uptrend. There is one more vacuum zone to cross, which will likely provide great resistance, as this is the anchor of our Fibonacci levels and the relative high of the range. If risk on sentiment picks up, watch for ZN to bounce here, or even at current levels.
ZN, Let's analyse it !! The ZN future is showing good performance. In fact the pitchfork indicator shows the hallway IN which the ZN could increase.
In addition, the price is evolving on the VWAP, so we could expect that the market of ZN is going up today.
However, any break of the VWAP down, or of the pitchfork hallway, could result a change in the trend, especially if it is accompanied with high volume.
In general, ZN is for buying today.