30-year Treasury yields uptrend is close to be testing 2022 peak at around 4.38.
RSI is positive and with no divergence indicating likely higher yields. A move to the 1.382 projection at around 4.75 could be seen. The 4.75 level is also around the level where yields where rejected 4 times between 2008 and 2011. A strong resistance level.
The RSI indicator: Historically, every time RSI has reached the 80 level (dashed blue line) a correction has hit yields. That scenario could play out again if yields are reaching the 4.75 level.
To demolish this bullish scenario a daily close below 3.80 is needed.