Resistance at 200SMA, gap fill, 2nd ascending trend-line (green dashed) + upper range of descending parallel channel (white)
Price action rolls over to re-test/break neckline & validate pattern
Prelim target = lower range of ascending parallel channel (light blue) + 50% Fib confluence zone.
Note: break of "neckline" before right should formation negates H&S = express trip to prelim target.
Comment
⋅
Hmm on further analysis you could argue that US10Y has already developed a "mini" right shoulder & subsequently bounced off neckline support (if it holds).
If yields rally towards ~4.80-4.85% then it could flush bonds/stock market, presenting opportunities for bullish positioning into EOY when yields ultimately capitulate towards prelim target..
Set alerts & laser focus on lower timeframe for the rollover, TBC..