#US10Y closed in April above the 200 monthly MA for the first time since 1985! On May 6th, US10Y stretched the weekly RSI to 81.58, the third highest ever. What could go wrong? Could it push a little higher or it is ready for a fall right now?
If we look at the waves, the overlaps of major waves are striking, signaling a possible completion of an ending diagonal. Something like this:
So far, there was no bearish signal registered, but…
If you would like to know how Ending Diagonals work, this is the most recent call on $GDX:
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