Will the 10 year finally break out of this long term down channel? The Fed and entire investment world says yes it will and soon. But the chart says it may have a little trouble exceeding this level in the near term.
We could be looking at a megaphone pattern on the weekly leading up to the 2020 November election. Price target 360. Too much fed liquidity and helicopter money for the indices to retest lows this year.
Relative strength history shows the 2nd trip down and out of the overbought RSI zone has coincided with some serious market bearishness in the coming months.
Chaikin Money Flow indicates distribution continues. Price wedged above 200dma and below red ichimoku cloud. Also a downward triangle bouncing off 256-260 area. This is all bearish.
