10-Year US Treasury Note Price: 17 December 2013, Tuesday, 5.59pm Singapore Time
Chart courtesy of StockCharts.com
Attached above is the 10-Year US Treasury Bonds Price.
The 10-Year UST has a bearish technical structure currently (failure of a consolidated triangular break-up).
There is a very high probability of breaking down the double black support above.
Once this black support breaks, there will be a sell-down of the 10-Year UST to immediate support of close to 112.50 and interest rates will rise or face rising pressure once this double black support breaks down.
Technical structure favours breaking down this double support. This is further enhanced by the double blue classical resistance lines, 50 DMA and 200 DMA acting as TRIPLE RESISTANCES OF High Selling Blockade.
Negation of the entire bearish structure will only come if the TRIPLE RESISTANCES OF High Selling Blockade are captured and made the support; otherwise, the entire structure should be looked upon as bearish all the way until 112.50 finds tentative support.
Implications?
Property Stocks worldwide will be looked upon for shorting until 10Y-UST finds 112.50 as tentative support. Property stocks worldwide will be first to be hit and hammered nastily once when the double black support above breaks down.
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