The US 10-year Treasury yield is currently encountering significant resistance at the levels of 4.335 and 4.36, marked by peaks observed in 2022 and August 2023. This resistance zone also aligns with the upper boundary of the Ichimoku cloud on the daily chart. There are indications that the market is exerting considerable pressure at this juncture: price action is showing persistence, and a buy signal has emerged on the Directional Movement Index (DMI) with the positive directional indicator (+DI) surpassing the negative directional indicator (-DI).
Where will it go to above 4.36?
Looking at the longer-term chart we can see an old trendline now offers resistance at 4.53, which co-coincides beautifully with the 61.8% retracement of the last leg down, which also lies at 4.53.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
Where will it go to above 4.36?
Looking at the longer-term chart we can see an old trendline now offers resistance at 4.53, which co-coincides beautifully with the 61.8% retracement of the last leg down, which also lies at 4.53.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
www.technicalanalysts.com
www.technicalanalysts.com