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Elliott wave analysis of the 10-year US Treasury yield for November 3, 2023
November 3, 2023 7:23 amVideo
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The 10Y US Treasury yield bottomed at the onset of the COVID-19 pandemic in March 2020 at 0.33%. Since then, it has rallied nicely in five waves confirming that a long-term bottom is in place. That of course doesn’t mean we will just see the 10Y yield rally all the time. We are clearly in the final stages of the first five-wave rally and we should soon see a correction back to the low of wave 4 of a lesser degree at 3.25%.
That said, we could still see a final spike through resistance near 5.0%, but we are close to a peak and the start of a corrective decline in the yield.
The material has been provided by InstaForex Company – www.instaforex.com
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