U.S. 10 YEAR T-NOTE & TNX

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the review section U.S. 10 Year Government Bonds and the U.S. 10 Year Yield Index (TNX).

U.S. 10 YEAR T-NOTE

The U.S. 10 Year T-Note broke down the support at 137.2 levels. Last 8 month’s price action can be identified as a possible rectangle. Breakdown not only breached the horizontal support but also the 200-day average. Given the extreme low volatility conditions, I expect a strong directional move very soon. Possible chart pattern price target (rectangle reversal) stands at 134.25 levels. The 200-day average and the horizontal boundary at 137.2 levels is acting as resistance. (Data as of Feb 16, 2021)

U.S. 10 YEAR TREASURY YIELD INDEX (TNX)

The chart below is the 10 Year U.S. Treasury Yiled Index. The index after forming a short-term ascending triangle, broke out of both a long-term base and the bullish ascending triangle. Breakout took place at 9.8 levels which acted as the support level. If yields completed a multi-month long rectangle reversal, chart pattern price target will be 14. A minor resistance stands at 12.7 levels. Uptrend is intact. (Data as of Feb 16, 2021)

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