ridethepig | US10Y testing resistance
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A timely update to the US10Y Yields chart as we approach key areas. The 1.35% pivot level in the very short term is our line in the sand and will define which battlefield we will play Q3 on.
↳ The waterfall lows from 2020 started the next five wave impulsive sequence to the topside, it will take years for the moves to unfold but critical to understand our long term direction (higher yields).
↳ Typically we will see ebb and flow, particularly in summer months. Now with 1.35% & 1.45% the key resistance areas defined and ready to monitor, all we need to track is for a sustained breach above as will imply buyers are in control and demand reassessment in the view that a base is already in.
↳ Here actively tracking for one more leg lower towards 1.00%, it should be enough to unlock the pressure valve in USD one more time before we see the next leg lower in global equity markets in October (more on this over the coming weeks).
tradingview.com/chart/US10Y/7btXgMHq-ridethepig-US10Y-Market-Commentary-2020-04-10/[/chart
↳ The waterfall lows from 2020 started the next five wave impulsive sequence to the topside, it will take years for the moves to unfold but critical to understand our long term direction (higher yields).
↳ Typically we will see ebb and flow, particularly in summer months. Now with 1.35% & 1.45% the key resistance areas defined and ready to monitor, all we need to track is for a sustained breach above as will imply buyers are in control and demand reassessment in the view that a base is already in.
↳ Here actively tracking for one more leg lower towards 1.00%, it should be enough to unlock the pressure valve in USD one more time before we see the next leg lower in global equity markets in October (more on this over the coming weeks).
tradingview.com/chart/US10Y/7btXgMHq-ridethepig-US10Y-Market-Commentary-2020-04-10/[/chart
Note
on the pivot right on time for the main event..
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