US10Y ~ Intraday Analysis (2H Chart)

9 Nov 2023

US10Y intraday mapping/analysis.

US yields dip while bonds & stocks rip.

US10Y in clear downtrend with potential bearish H&S pattern developing, TBC.

H&S development would correlate with bonds/stocks pullback before further bullish momentum into EOY.

Left shoulder, head & neckline outlined. Right shoulder parameters:

• Rally above ascending 1st trend-line (green dashed)
  
• 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.

9 Nov 2023

Nota

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..