10-Year Treasury Yield Ready to Extend Advance to 2022 Highs?

The 10-year Treasury yield has been rising since the end of January in the aftermath of a Bullish Morning Star candlestick pattern.

Now, prices are approaching the December high at 3.905 after confirming a breakout above a falling trendline from October.

Meanwhile, a bullish Golden Cross is set to form between the 20- and 50-day Simple Moving Averages, further offering an upside technical bias.

Confirming a breakout above the December high exposes the 78.6% Fibonacci retracement level at 4.118 towards the 2022 peak at 4.335.

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