Update 25 Feb 2023.
CRUDE OIL. we will start this article with crude oil. After our last system sell in Oct 2022., at USD 82 levels., the price has done nothing new., except bounce in a USD 72 to USD 82 zone., unable to have any breakouts., the more it stays in this zone., the larger the next move is anticipated., right now most of the indicators are still in continuation of the sell signal. Its a sell at pivots., with small stop and cover at small gains., kind of a oil market., which suddenly could lead to a big fall., however., this might change anytime., we will update incase there's a price reversal.
US Treasury Bond Market.
in our last couple of updates we had mentioned that there is no definitive buy in the Bond market., and the last few weeks rise has been just a bounce from historical low levels. For US 30 year bond we had mentioned a trading range of 120-145., and it went upto 132 odd and is now back at 123 levels. nothing to do ., if one is sitting on cash., rather wait for a high probability trade for a larger trend.
US 2 year Bond., its almost back to its recent lows., again referencing our earlier update., it went up from historical low levels., and now its back to its recent lows.
there is no real bullish move seen at the moment., however as can be seen from the first part of the chart above., the orange superindicator line has started moving up. this by itself doesnt signal anything., but we will monitor the Bond market on a continous basis. The price could still continue its slide downwards., or maybe in a sideways range.
Reiterating what we had said earlier., these levels are good to buy if one had sold earlier when we had our sell signals., however there is no clear signal for a fresh long or bullish move. once we get that we will know with a higher degree of probability that the trend has changed. Till then we wait on the sidelines., sitting on cash., waiting .