Eurobund Contract: more bearish than 10 Y T-Note?

Long term: quarterly bearish divergences for our stochastic and MACD?

On a quarterly basis, a bullish T2 failed with LQ which is not on the down side. But our 7 / 23 quarters moving averages, stochastic and MACD are up. With a close below MQ (117.38), a bearish divergence could develop for our stochastic and MACD. With this hypothesis, LQ (110.02) will be our main target. On a monthly basis, like a bullish bubble pattern failed (quarterly time frame was not bullish when a monthly pseudo- bullish “T2” occurred and LM was flat in T4). A decline could develop with the overbought status for our stochastic and MACD.  MM (117.48) is our first objective.

Idea: as long as MM proves to be a support (end of a month) a decline is only a technical move.

R= PW (123.81), UW (125.97);   S= MM (117.48), PM (114.62)

           

Medium term: lower

On a weekly basis (continuous contract),a weak bearish A type crossover is in progress with our 7 / 23 moving averages. A bearish non-crossover is in progress with our stochastic and MACD.

Idea: decline as long as our MACD is not oversold.

R = MW (122654);   S = MM (117.48), PM (114.62)

 

Short term: technical recovery

On a daily basis, a bearish non-crossover is in progress with our 7 / 23 moving averages. Our stochastic and MACD are oversold. MD (120.24) is our next objective and UD (121.92) is the next one.

Idea: very weak if MD proves to be a resistance.

R = MD (120.24), UD (121.92);   S = LD (118.57), –

Conclusion: medium term is weak as long as MW (122.65) = resistance.

 

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