The Day Ahead: PM Edition 2021-07-21
USD starting a retrace?
Bonds
Nice to see bonds drop through 165^07 today. I would think ZB firms up a bit from 163^09 or 162^17 for a bounce. Bears will then look for a lower high to form and later break under the daily moving averages for confirmation that bonds are in the early stages of wave v down.
Crude Oil
Crude bounced as expected but too forcefully …
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