Today, let's look at the 10 year US notes.
10 year US notes are surely , and are falling quite nicely, away from 124'25 level of a former swing high, labeled as wave 2. This acceleration in potential five waves will be labeled as red wave 3, usually the strongest and sharpest wave. That said, if we observe closely, we can see that the whole price structure since 125'15 region is situated within the confines of two channel lines, also know as an channel. Well, as we can see price is now trading near the lower portion of the channel line, which can offer support for wave 3, and push price into a temporary correction of black wave 4. Wave 4 can later see limited upside, and possible resistance near the upper portion of the channel.
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