Chart of the Day: UST10 make or break it at $132
Another Monday and another make it or break it level, this time with UST10 futures at 132:-
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ZN1! is making at 3rd attempt to test overhead resistance at $132. Why is this a crucial resistance? This resistance line is created by joining the 2012 and 2016 peaks. If you recall, 2012 and 2016 marked the troughs for the European Debt Crisis (& started massive global QE) and the oil crisis respectively.
--> the most recent candle is not fully formed yet but as of now, it looks like a gap up shooting star and US equity markets are sitting on support levels.
--> However, the impact of the Coronavirus is real, so is this THE Zombie apocalypse that finally tips equity markets off its rocker and push UST to new highs?
Fortunes are made at inflection points and fortunes have been lost at inflection points. Stay tuned!
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ZN1! is making at 3rd attempt to test overhead resistance at $132. Why is this a crucial resistance? This resistance line is created by joining the 2012 and 2016 peaks. If you recall, 2012 and 2016 marked the troughs for the European Debt Crisis (& started massive global QE) and the oil crisis respectively.--> the most recent candle is not fully formed yet but as of now, it looks like a gap up shooting star and US equity markets are sitting on support levels.
--> However, the impact of the Coronavirus is real, so is this THE Zombie apocalypse that finally tips equity markets off its rocker and push UST to new highs?
Fortunes are made at inflection points and fortunes have been lost at inflection points. Stay tuned!
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