US 10yr yields target channel resistance, Stay bullish ESU4.
With risk assets coming under a bit of pressure this morning, US 10yr yields
are pushing lower. However, into 2.301%/2.267 (retracement and 8.5m
channel resistance), we look for a near term base and bounce. HOWEVER,
this bounce remains temporary and corrective. It would take a break of
2.473% to indicate a turn in the medium term trend, NOT BEFORE.