10-Year Note is making Bullish Engulfing pattern with low at the 50-DMA Support.
So we look for confirmation on the upside.
10-Year Yield made a Bearish Engulfment right at the 50-DMA Resistance.
ROC is in overbought territory but RSI is just signalling a bullish trend so a confirmation on the downside is needed as we saw the same situation above in the underlying bond price.
Volatility broke to a new Low as complacency seems to win over fear and markets are managing to run higher. My guess is we break out of this state of mind very abruptly but in timing we must be canny so I'd watch for a close above the Horizontal line.
Yield is creeping higher inside the downtrend channel targeting 1.46%.
Weekly bond prices came off Overbought levels on the Weekly RSI however they are at a long term support level and will have to consolidate before the move resumes and certainly IF only the global re-flation is on the menu again.