By Jeff Pierce
While the weekly below still has the look of a chart that has a little life left in it, I have a suspicion that the bull market in bonds in over. All of the time frames I follow are sporting bearish chart patterns and while it wouldn’t be out of the question for this to rally 3-4 dollars, I don’t see this going too much higher before it’s next leg down.
Max upside for RSI is 60 now that we’ve moved into oversold negative territory, just like it was in late June, early July. That proved to be strong resistance.