$TYX | 30 Year T-Note Yield Selloff ?

As seen by the S-curve pattern on the 4hr time frame, TYX price action seen challenging June 6th highs of 31.40, after Friday's sell-off. Had it not been for Friday's selloff, price action was set to stay below 29.50, at levels along the downward sloping trend line. Next week could set the stage on whether traders will push price action higher, or be challenged by central banks countering their positions by preventing higher price continuation, to avert negative market sentiment. If history is any guidance, we think the red trend line will prevail should pricing run into resistance at the 31.50 level.