Over the last two weeks the yield made a brief poke under the .382 retrace of the advance from a year ago and recovered it this week. I continue to think yields rise though it does have to break over some resistance just a little higher for confirmation.
Thus far, the yield has pushed up out of the narrow wedge but has yet to break the larger wedge. I think it has the potential to do so this year and test the upper parallel.
Drilling down into the weekly chart, the adaptive CCi reached oversold levels this week and had a quick reaction up. I have added some Gann related resists and targets on this chart which suggest 28.96 is the number to beat which should cause yields to at least test the swing highs from this year and have a chance to run for 34.16.