Ten-Year T-Notes Break Through the Support Zone
Sellers have dropped the price through the support zone on the daily chart. The daily RSI readings are still indicating a trading range with a bullish bias. The trend does not turn down until the RSI closes below 38. Watch for a pivot low to form on the RSI above 38 to signal a short-term bottom.
The Constant Volume Chart is set to 25,000 contracts with the CQG SnapTrader and the RSI is set to 14-bars. The recent extreme readings for the RSI are below 38, indicating downward momentum. The RSI just formed a pivot low above 38, and that signals a trading range.
The T-note TradeFlow Chart, has the two studies set to five-bar running sums, and the ChartTrader attached. At time this image was captured, buyers were coming in as the peaks of the buy volume line are edging above the sell volume line (red) of the TFVCrss study.
The TradeFlow short-term view can quickly change.