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12th March - Have US Bonds broken down?

12 March 2018

TECHNICALS:

 

MONTHLY CHART

The very long-term clearly defined  bull trend support is close by, but yet broken.

 

On the other hand, there is powerful resistance above the market from the bottom of the old trading range at 122.07.

DAILY March 2018 Eurostoxx CHART

The breakdown through the bottom of that trading range which has been in place since 2014 was emphatic, and created massive overhead resistance in the band of horizontals at 122.71-123.01.

 

Note how there was a retest of the breakout level which was quickly repulsed.

DAILY CHART

The March 2018 future shows how the trend has been in place for rather longer than the continuation charts suggest, since mid-December. Here the rally of early February can clearly be seen to have failed very quickly.

There are few grounds for optimism for the bulls short, medium or long-term.


No fundamental analysis - John Lewis is away

 

 

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