Ascending Triangle pattern for the U.S. Treasury 10-Year Note
Always trade in the direction of the prevailing trend: the major trend is down, the intermediate trend is sideways and the near-term trend is up. The ascending triangle pattern identified in the above chart of the U.S. Treasury 10-Year Note is usually bullish. A breakout above the upper line around 1.900% completes the pattern. A break below the upward sloping lower line would indicate the pattern has failed.Then there would be a test of near-term support at 1.600% and a possible test of major support at 1.400%.
Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from BigCharts.com which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.
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