New Up-Leg in Yield?

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As the global and U.S. equity markets stage a huge recovery rally, 10-year YIELD continues to creep higher– to 2.24% from the Aug 24 low at 1.90%– within a larger-developing bottoming pattern (outlined by the red lines below).

Current strength has propelled YIELD up and out of its near-term digestion (flag) pattern that triggers upside potential to challenge its Jan, 2014, resistance line, now at 2.40%.

Only a break below 2.11% will wreck the developing bullish set-up in YIELD.

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Originally published on MPTrader.com.

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