10 Year US Notes Looking For A Low
Mar 06 2018
10 year US notes can be trading at the end of a higher degree wave III. Specifically we see price unfolding an overlapping price movement within sub-wave 5 of three, that looks more and more like a EW ending diagonal. The speciality of this pattern is that it can cause a sharp a strong turn into the opposite direction, in our case into corrective wave IV, which could see limited upside near the 121.09 level, at the starting point of the pattern.
Possible support zone is seen at 119'20, where red waves 1 and 5 would become equal. That said, divergence on the RSI also suggest a potential turning point.
10Year US Notes, 4H
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