US10Y Approaching the top of the Channel Down. Sell opportunity.

The U.S. Government Bonds 10YR Yield (US10Y) is approaching the top of the (blue) Channel Down pattern, which was our bullish target on our last trade ten days ago (see chart below):


Despite not having hit it yet, we decide to close this long trade as we see more value in starting a sell-near-highs approach now. There is also a diverging Channel Down (dotted lines) involved and the maximum technical top that the price can make without breaking any pattern is the top of the Rectangle (4.090% Resistance). That will be our 2nd and final sell entry.

Pay attention to the 1D RSI also, which is approaching the overbought barrier (70.00) just like on February 21. Our bearish strategy targets the May 04 Low at 3.300%.

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