Commodity Prices

Gold •780 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,895.70	+56.60	+3.08%
WTI Crude •1 day	87.06	+0.23	+0.26%
Gasoline •1 day	3.348	+0.085	+2.61%
Ethanol •780 days	2.161	+0.000	+0.00%
Silver •780 days	30.82	+1.16	+3.92%

Silver • 780 days	30.82	+1.16	+3.92%
Copper • 780 days	4.530	+0.111	+2.51%
Brent Crude • 1 day	94.39	+0.61	+0.65%
Natural Gas • 1 day	2.773	+0.040	+1.46%
Heating Oil • 1 day	4.495	+0.015	+0.32%

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Ed Carlson

Ed Carlson, author of George Lindsay and the Art of Technical Analysis, and his new book, George Lindsay's An Aid to Timing is an independent…

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Interest Rates: Ten-Year US Treasury

By Ed Carlson - May 03, 2016, 12:54 PM CDT

TNX (the yield on the 10 year, US Treasury note) fell 3.65% to close at 18.19 on the 30-dma last week. Look for a bounce with equities early this week but don't expect it to be sustained as the daily Coppock is still high enough to expect a top, not a bottom. Resistance is near 20.00. Look for support at Friday's close. A break of this level opens the door for a return to the April low near 17.00.

Longer term, TNX has closed below the lower trendline of the 3 ½ year triangle. If confirmed by a break of 16.65 (horizontal support), it forecasts a decline into negative interest rates for the 10yr note.

TNX Chart
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