We took a look at the US 10 Y yield a couple of days ago, so why not take a look at the +20 Y this time.
Since I last looked at this Fund we have seen some very interesting Developments. First of all we broke below the Shoulder/Head/Shoulder tops neckline calling for a decline towards 95. We also have broken below the mid-line of a rising channel, which has been in place since 2003. As we can see most of the up move since 2003 has been going on in the lower part of the channel and after a relatively brief break towards the upper part of the channel we are now back into the lower part, this time with the risk of a major long term top being in place, which could mean a break below the channel support line. I'm sure it will not break at it first attempt, but I'm not sure I will be betting on it to hold firm on the next try. However, for now it doesn't matter if this support-line is going to hold or not. For now we should just concentrate on getting down to 95.
Proshares also has a 20+treasury fund, UBT.P, but the chart is totally different, and it doesn't seem to be a shortselling chart. Any idea how this is possible?
ReplyDeleteHi Therapeter,
ReplyDeleteThe Proshare 20+ Y fund is an Ultra fund, which means that you will trade 2 times the normal amount. I think that makes up the difference between the two charts.
Kind regards
EWS
Hello EWS, Just wanted to congratulate you on the great work you did this week. Gold, Cable, EURUSD, EURJPY, USDCHF, all great calls. You Rock!!
ReplyDeleteHave a great weekend,
Duane
Hi Duane,
ReplyDeleteThank you very much.
A great weekend to you too.
Kind regards
EWS
Hi again EWS,
ReplyDeleteCould you please give us a short term count for GJ?EJ is imminent to drop according your analysis.Therefore the same will happens to GJ also or this pair you think is bullish..
Thanks in advance,
Panos
Hi Panos,
DeleteI have just updated GBP/JPY. I dont think GBP/JPY is bullish longer term, but we could see a short term rally higher towards 154.88 before the next swing lower.
Kind regards
EWS