Monday, April 11, 2011

Rates Again

Getting there. See post from Mar 19. Be Afraid 

30yr. Active Mo. Weekly
click to enlarge
By far the important support is the diagonal trend line. 
Looks like it cuts around 117.20
Hourly
 click to enlarge
Note the repeated positive divergence on the 14 RSI.
A corrective move up would seem about right prior to taking out the trend line.
If the trendline test comes first without a bounce here, beware a false break in an oversold market.  


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