TNX, the yield on the 10 year Treasury note, fell for the fourth week in a row with a loss of 1.36% to close at 21.75 on Friday after challenging the 30-dma earlier in the week. TNX remains in the 2015 trend channel and should find support at the lower boundary and 200-dma both which are near 21.34.
A bullish head-and-shoulders pattern measures a minimum rally to 27.50. But if TNX remains in the 2015 trend channel, it will reach its target no sooner than October (which coincides with the crossing of trendlines in the lower chart).
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