This example shows how the US10Y has been moving in a bullish trend since the beginning of 2020 (at 0.345%). From the bottom, we have a trend line as support, after which the first higher high was formed at 1.75% (resistance zone). Then follows a pullback to the lower support line and a new bullish consolidation up to the previous resistance zone. In January, we see a break above the resistance zone, and that zone now represents a support zone for us to continue the bullish trend. US10Y makes a new higher high to confirm the continuation of the bullish trend, then we retest the support zone, and a bullish impulse follows. Now our target is 3.0% psychological level and after that the previous high at 3.25% level.
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