Elliott wave analysis of US 10Y Treasury yield for October 9, 2023
October 9, 2023 7:23 am
The US Treasury Yield continues to push higher and should see more upside pressure towards the next resistance near 5.24% in the months ahead. Yes, the rally is getting extended but the best part of the rally from 0.54% is clearly behind us.
Once the extreme of wave 5 is in place, it will be time for a larger corrective decline towards the low of wave 4 at 3.30% as the first target. Depending on the structure of the decline from the extreme of wave 5, we could see a deeper corrective decline, but the first target to look for is the low of wave 4 at 3.30%.
The material has been provided by InstaForex Company – www.instaforex.com
The US Treasury Yield continues to push higher and should see more upside pressure towards the next resistance near 5.24% in the months ahead. Yes, the rally is getting extended but the best part of the rally from 0.54% is clearly behind us.
Once the extreme of wave 5 is in place, it will be time for a larger corrective decline towards the low of wave 4 at 3.30% as the first target. Depending on the structure of the decline from the extreme of wave 5, we could see a deeper corrective decline, but the first target to look for is the low of wave 4 at 3.30%.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: