US10Y Testing a symmetrical level. Potential Resistance.

One of the hot topics in the market recently has been the rising bond yields. The US Government Bond 10 year yield traded this week inside a Zone that has formerly been (from 2011 to 2019) a long-term Support level as clearly illustrated on the chart.

With the RSI on the 1W time-frame also entering its Resistance Zone (holding since 1996) and the MACD approaching its own, can this mean that the US10Y has topped? It is not impossible that what used to be a Support Zone, will now turn into a Resistance.

What do you think?


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