10yr Italian Government Bonds: New sell signal


Italian bonds are reeling and subsequently pushing yields through the 2% level. The breakout below support means the end of an elaborate consolidation pattern and the start of a major new down trend. Focus is now on 95.21 followed by the major pivot-lows of 2017 at ~90.18.

Interestingly, IGBs look considerably worse than Spain.

  • Primary trend: negative
  • Outlook: new down trend, negative
  • Strategy: hold-short and/or short-entry
  • Support: 95.21* / 90.18-
  • Resistance: 102.60 / 103.10
  • Outlook cancelled/neutralized above 102.60

Weekly chart 10yr Italian Government Bonds