Yields to 5.25?
The inverse picture of the future, the yields chart (unfortunately, this is just a line chart so we do not have the troughs and peaks but only the closing prices which are less extreme than the closing prices) the yields peaked just around 5.25% back in 2007.
Yields formed a Double Top pattern in 2006-2007 with a base (called a Valley) around 4.43. 10-year yields have surpassed the “base level” and is now in the “Double Top” area with no strong resistance until 5.25 i.e., the Double Top pattern peak.
Monthly RSI is showing divergence as indicated by the horizontal blue line, the current value is below. But if RSI is closing a month (RSI is working with closing prices on the time period) above the horizontal line it would indicate even higher levels than the 5.25%.
Note:It should be noted, however, that wave 5 can move further than the 1.618 projection of wave 4 (on the future) but since we have a Double Bottom(the future)/Double Top pattern back in 2006-2007 I believe that bottom/peak level to be the exhaustive level