Bonds

Bonds Across The Globe Are Approaching SupportMay 29, 2023

Bonds across the globe are approaching support, as we see corrective structures within uptrend by Elliott wave theory.

Bond market has slowed down in the first half of 2023 after an impulsive recovery at the end of 2022. But, looking at US, German and UK bonds, we can see corrective pullbacks within uptrend that can be now nearing an important support.

If we take a look on US bond market (10Y US Notes), we can see it consolidating within uptrend, ideally within a bullish triangle pattern in wave B that can later send the price higher for wave C up to 122 resistance area for wave C.

Bonds Across The Globe Are Approaching Support 10Y US Notes Daily Chart
10Y US Notes Daily Chart

German bond market (BUND) can be making a bigger (A)-(B)-(C) recovery after a completed larger wedge pattern. Currently we see it slowing down in wave (B) after a sharp bounce into wave (A). With RSI divergence, it can push the price higher for wave (C) towards 143-144 resistance area.

Bonds Across The Globe Are Approaching Support BUND Daily Chart
BUND Daily Chart

UK bond market (GILT) can be finishing an a-b-c corrective setback in wave B after an impulsive five-wave recovery into wave A, so with potential bounce into wave C, it can easily see a bigger recovery back to 120 resistance area.

Bonds Across The Globe Are Approaching Support GILT Daily Chart
GILT Daily Chart

That said, it seems like bonds can be forming a bullish setup formation that can send the price higher, so watch out for rally in the second part of 2023.

Become a premium member

Get daily Elliott Wave updates for SP500,DAX, GOLD, SILVER, CRUDE, FX, CRYPTO, etc. or apply for unlimited access to the Elliot Wave educational videos.

Register and look inside of our members area

Fetch.AI Is Getting Attractive. Check our free chart HERE.

Do you find this interesting? Subscribe to our newsletter and stay up to date.

In our newsletter you will find all the news and macro reports about Forex, Crypto, Commodities and more. Don't miss a thing!

    DISCLAIMER

    Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

    The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

    Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

    By continuing to use the site, you agree to the use of cookies. Learn more.

    The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

    Close