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VERSAILLES FRANCE
Posts: 553 since Jan 2013
Thanks Given: 42
Thanks Received: 657
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At 6 pm, Paris time, I do see on a 30' graph a decreasing wedge on 10YR T Notes future contract June.
As long as prices are above the blue horizontal line (weekly Pivot Point), target is R1 (125,08').
Such wedge can be seen as a consolidation of the rise from 123,26' to 124,31').
An exit by above is expected tomorrow or Wednesday at latest. Failure to exit by above would be a very negative sign and prices would then go back to 123,26' around if weekly PP does not hold.
Fed meeting this week will by no means make prices exiting the structure, one way or the other.
Have a nice week.
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