The Ten-Year T-Notes Continuing the Trading Range
Yesterday, the ten-year T-note broke and recovered. The market uncovered buyers in the support zone on the daily chart. Today, the market action could cause the daily RSI to form a peak reading below 62, signaling a trading range with a bullish bias.
The Constant Volume Chart (set to 25,000 contracts) with the CQG SnapTrader and the RSI set to 14-bars. The current extreme readings by the RSI are above 62 and above 38, which indicate a trading range with a bullish bias.
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, the sell volume line (red) was peaking over the buy volume line (green) of the TFVCrss study. Traders are hitting bids.
The TradeFlow short-term view can quickly change.