There are two important points on the weekly chart. First, prices have broken an upward sloping trend line that started in mid-2007. This is actually a health development as it indicates money is moving from the safety of the Treasury market to more risk oriented assets. In other words, traders are now more comfortable taking risk which occurs in an economic expansion. Secondly, notice that prices are still above prices that occurred in 2008. This tells us prices ultimately have a ways to move lower.
The daily chart shows that prices are in a consolidation pattern, fluctuating between 87.5 and 92. The MACD is about to give a sell signal -- which is in direct contrast to the MACD on the monthly chart which has given a buy signal.
