The bond market appears to making a corrective wave back up after creating a new weekly low. As we move higher in the bonds, the technical analysis is suggesting to us that a short term reverse head and shoulder may be building up. With the neckline at 121.35, a break of this resistance can quickly see bonds trading back towards the 122.07 or 123.10 levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.