After a lower open, Mortgage Bonds have reversed and are trading slightly higher. This reversal is happening at a floor of support underfoot and has formed a very bullish candle pattern. A look at the past two days trading has created a “Bullish Piercing Pattern”, which if held through the day, can represent a signal that a reversal higher is in the works. Additionally, a positive yet random crossover from deeply oversold levels is also attempting to form.
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