Ten-year Treasury Notes have been rotating in a well-defined range for the past couple months. Based on the current price action and looking at the economic calendar in the coming week, the next directional move may be right around the corner.
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You can see on the chart below, notes are making a third test of the zone of resistance at 130’210 – 131’095. Any break above this zone would shift the near-term bias as well as the larger degree structure to favor the bulls.
There remains support at 129’000 – 129’150 on any pullback and only a breach of this support zone would instead shift the bias to bearish.
