The U.S. Government Bonds 10YR Yield (US10Y) has been trading within a Channel Down pattern ever since the October 21 2022 High and even though there might be a Diverging Channel Up (dashed lines) emerging, the current level makes a strong Resistance cluster.
With the 1D RSI also rejected twice on its Higher Highs trend-line, we are turning bearish on the US10Y again, targeting the 1D MA200 (orange trend-line), which supported the price twice on January 19 and February 02. Potential contact (as a target) can be made at 3.550%. We will continue to be bearish only if the 3.320% Support breaks.
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With the 1D RSI also rejected twice on its Higher Highs trend-line, we are turning bearish on the US10Y again, targeting the 1D MA200 (orange trend-line), which supported the price twice on January 19 and February 02. Potential contact (as a target) can be made at 3.550%. We will continue to be bearish only if the 3.320% Support breaks.
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
💰Join TradingShot Account Management | +20% monthly profit | Min. capital $30k | Excellent risk-management
💰Join TradingShot Account Management | +20% monthly profit | Min. capital $30k | Excellent risk-management
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.