US10Y - Topping

Chart request for @SmokeyCharts

US10Y should be topping out here after an explosive bounce.

• It has now passed the 1:1.618 and 1:0.618 fib extensions.
  
  
• It has printed a spinning top doji, showing the top is probably close.
  
  
• And it has probed above the 200 month MA for the first time ever.
  
  
• Monthly RSI above 70 also for the first time ever.
  
  

In the end this looks like it was an enormous reactionary bounce to the 2020 crash and the trend may continue somewhat as it was before the crash from herein.

Good chance there is a Wyckoff UT UpThrust to take US10Y above October 2018 resistance through distribution phase before heading lower.

This will print shakeout reversal patterns through the aforementioned price landmarks.

Not advice.

Kommentar:

Now pierced through resistance and there is a trendline above that perhaps it will tag.

Kommentar:

Monthly candle closed a long wicked shooting star tagging the trendline to print a shakeout reversal pattern. This has done EXACTLY as I said it would. 🤠

Lower yields may have a positive impact on other markets - stocks and crypto, as well as potentially seeing a decline in DXY.

Should at least get back to the log 0.382 from here @ 1.2%.