(Please double click on the charts to see them better)
US 10Y Treasury Yield:
We saw an important long term bottom at 1.39 in late July 2012 and has since then seen an impulsive rally higher towards the long term resistance line near 3.80.
Looking at the rally from 1.39 we already have a five wave rally in place and that means all requirements for this first wave has been fulfilled. That said, I would be looking for wave 5 to rally further towards 3.44 and maybe even closer to the long term resistance-line. We should expect this resistance-line to protect the upside at the first attempt to break it, but after a correction towards 2.47 the next attempt should prove successful and carry the 10Y yield higher towards 5.31 as the first major target.
No comments:
Post a Comment