THE BIG PICTURE: Tops can take a long time to develop. Note here that Bonds are developing a double top at the moment which encourages more selling. A target of the trend line in the 130s is a short term target with the 124 zone ultimately being a place where the buyers attempt to re claim the market. The expectation based on the potential DXY short should have this market holding these highs.
THE TECHNICAL STANDPOINT: Holding below the recent highs in the Bonds adds to the probability of a push to toward the trend lines. The expectation is to see price ping pong between these levels until there is a squeeze below the trend lines.
THE TECHNICAL STANDPOINT: Holding below the recent highs in the Bonds adds to the probability of a push to toward the trend lines. The expectation is to see price ping pong between these levels until there is a squeeze below the trend lines.
