Steve Miley, MSTA
MarketChartist
US 10yr future now aims for 122-23 retrace target and below
A low level digestion on Thursday ahead of the US Employment data today, maintains a negative tone.
The previous setback from 123-30/31 and push through the 123-03/025 pivot area, favors further bearish pressures this week and into next.
We still target the 61.8% retrace at 122-23 and maybe back to the key 122-09/03 chart props.
Overshoot risk is to the 78.6% retrace level at 122-01.
WHAT CHANGES THIS?
Back above 123-13 eases bear pressures; through 123-305is needed for a more neutral tone again. Above 125-00 re-energizes bullish pressures.
Daily US 10yr June Future: Adjusted Continuation Chart
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