Forex | Forex | US 10yr futures, sharp move nearing..... (31/07/2009 06:48:44)

US 10yr futures, sharp move nearing.....

US 10yr note futures are chopping downward since the July 10th high/test of longer term resistance at 119/00 (38% retracement from the Dec high at 128/22), and may be forming a wedge-like pattern over that time. Generally, these patterns break down into 5 legs before resolving higher (see “ideal” scenario in red on daily chart below). Note too that seasonal charts are pointing higher through the end of the year (see longer term and 3rd chart below), adding some weight to the view of an upside


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