Bond s may bounce, yields may come down
The 10yr bond market continued to fall today as yields broke the 2% level, highest levels since 2019. The market has been laser focused on the "2%" level in recent months. If you look at the 10yr bonds futures market, the ZN, the bonds have traded down to the 61.8% Fibonacci retracement of the 2018 lows to 2020 highs. This is a key level of support longer term. The triangle pattern max target has nearly been reached too. Since this level is so big (technically) we'd assume there would be a bounce/consolidation near these levels as the bond market also completed an ab=cd pattern. If you are short bonds, You should take note. This was discussed on yesterday's "Trade Off" show hosted by Pepperstone Securities.
Community - forexanalytix.com/sign_in
Prop trade with Forex Analytix - bit.ly/3t0NdRB
Forex Analytix Community Experience - forexanalytix.com/webinars/face/sign_up
Prop trade with Forex Analytix - bit.ly/3t0NdRB
Forex Analytix Community Experience - forexanalytix.com/webinars/face/sign_up
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.