US10Y Critical point, break or hold on the Channel bottom!

16 Dis 2022

The U.S. Government Bonds 10YR Yield ( US10Y ) has gone a long way since our top prediction two months ago and the update 20 days ago (4H time-frame):

Now back to the 1D time-frame, the price is exactly at the bottom (Higher Lows trend-line) of the long-term Channel Up, below the 1D MA100 (green trend-line), which is where the last bottom was priced. The 1D RSI has hit the 1 year Support Zone twice, again as in the last (August 02) Higher Low and it remains to be seen if the price reacts with a bounce. So far the move is much weaker than in August.

In order to extend our selling we ideally need to see the 1D MA200 (orange trend-line) break, which is holding as Support since December 29 2021, and in that case we will target initially the 2.510% (August 02 Low) Support and then the 1W MA100 (red trend-line).

A closing above the 1D MA50 (blue trend-line) though, should restore the long-term bullish trend and will be our buy break-out signal to enter and target the 4.340% (OCtober 21 High) Resistance.


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