US 10-Year Treasury Yields have now tagged the apex of two rising intersecting trendlines (the high of February's candle) and is currently trading a bit below, as shown on the following monthly chart.
It will need to break and hold above this apex around 2.885, first, before reaching 3% at some point.
The momentum indicator is above the zero level, and, as long as it remains above, it hints at higher rates ahead on this longer term timeframe. However, the RSI is nearing its prior all-time high of 67.7510 set in January of 2000, so we may see quite a tug of war playing out over the coming days/weeks.
If we see a spike in RSI over and above that prior high, look to see whether momentum makes a higher swing high. If so, that could very propel this to 3%, or higher. If not, then I think price will move sideways for awhile.
