30-year yield US Government bond technical analysis, the yield reached the first target of the weekly bullish breakout, which occurred in January 2021, and started a pullback on the weekly chart. This pullback on the weekly chart materialized as a breakout on the 4H and the daily chart. The first target of this breakout on the daily chart is at 1.90, the August 2019 low. If the 30-year yield US Government bond breaks below 1.90, it will extend this bearish move toward the support at 1.75.
On the bullish side, if the 30-year yield of the US Government bond breaks above 2.51, it will resume the 3rd bullish weekly wave. The first target of this wave is the 1.272 FIB extension at 2.70, the second target is the 1.618 FIB extension at 2.95, and the third toward the 2.72 FIB extension at 3.45.