US10Y Possible Inverted Head & Shoulders

Friday’s blowout number in NFP’s may have helped give the US 10 Year yield some go-go juice to jump start a run back towards the 1.90-2.05% area as it popped above the neckline of a possible inverted head and shoulder pattern. This is an area of confluence as it’s the 61.8% Fib level (1.976) of the November ’15 high/July ’16 low and the 61.8% Fib level (2.054) of the June ’15 high/July ’16 low which also served as an area of previous support-resistance. The renewed anticipation of a hike from the Fed based on these strong numbers just might be the catalyst to get Treasury yields back up a bit.



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