US 10 Year Yields and Elliott Wave Analysis

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 US 10 Year Yield daily chart


Analysis

As shown in the above chart, US 10 year yield is moving in a higher highs and higher lows and it is precisely moving in a rising channel. Recently it faced the resistance of the channel and reversed, currently moving in a negative direction. It has also breached its previous low of 3.68%, thus opening further negative possibilities.

A weak 10 year benchmark yield supports riskier assets indicating good inflows in global equities. The global equities has started picking up momentum in the last three weeks on the back of weak yields.

ADX is also indicating that the strength of the upward trend has subsided.

From Waves perspective, Wave v has ended at 61.8% from wave 0 to iii added to iv thus giving an indicating that the top has been in place. Prices are now moving in opposite direction and has opened wave a on the downside which can move down towards 3.55%

The summation is US 10 Year Yield is negatively poised and can move down towards its support placed at 3.55% over very short term.


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