Marke is on long term support, Russia is willing to comply with oil
production cut, and decent earnings
from some of the large powerhouse companies such as facebook
. We will see a rally in the markets following the next few weeks. If that is to be true then that means that treasury bonds will drop due to a switch in allocation of money from investors. This is a high risk low reward setup for all traders. It is a 10:1 Risk Reward opportunity which is ridiculous. A potential double top
here where there is previous long term resistance. Look on the bottom, volume
peaked then lost strength. After we lost strength we had one more wave of buyers (big green volume
spike) that failed to breakout and hold above the previous highs which attracted a lot of shorts and sells (big red volume
spike after the green one in the circle). This failure to continue trend is a great short play.