Looking at the 4-hour chart of the 10-Year U.S. Notes we see price ending a wedged pattern in wave (C). This pattern is known as an ending diagonal, that can after its completion push prices in the opposite direction. At the moment we can see a decisive breach taking place around 126.0 region. This can be a signal that more weakness may follow and that red wave (I) is in play. Once wave (I) finds support and new corrective reversal into wave (II) can unfold.

10-Year U.S. Notes, 4-hour

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