Technicals - US 10 year bond yield - Upside target located at 2.92%

One key market that has recently reached a technical turning point is the US 10 year bond yield.  The expectation is for a further increase in yields to occur, with the minimum upside technical target located at 2.92%.  As highlighted by the chart below, it had previously generated a technical top formation /closed below key support located at 3.08% on 16/11/18, which as detailed at the time, indicated a (negative) trend change in US bond yields. The nominated downside technical target located at 2.64% was reached on 2/1/19. More recently on 27/2/19, the US bond yield completed an upward reversal/closed above key resistance which confirmed a (positive) trend change, with the expectation being for a further increase in yields to 2.92%.