US 10 year yield - Anticipated Happened

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 US 10 year yield daily chart


Analysis

In my previous update on US 10 Year yield updated on 27th November 2022, I had mentioned that, “US 10 Year Yield is negatively poised and can move down towards its support placed at 3.55% over very short term.”

The yield plunged below 3.55 thereby achieving my mentioned level– Anticipated Happened.

To see my previous article on 10 year yield, click on the below link

https://www.marketanalysiswithmeghmody.com/2022/11/us-10-year-yields-and-elliott-wave.html

As seen in the above chart, the yield has started moving in the opposite direction and continues to persist in the rising channel. It is imperative to see if it plunges near till the support of the channel which is placed near to 3.20%

ADX is showing strength as it is above 25 thereby indicating that the trend is showing strength.

From Waves perspective, the current fall is a part of wave a and can move down further till 3.20%

The summation is US 10 year yield is negatively poised and can tumble towards 3.20% over short term.


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