Chartbook: Chart GER 10 Year Yield: Higher in broad range - critical resistance at 3.000% - 3.024%

Anticipated minor tests lower have not been seen, as cautious trade above congestion support at 2.500% gives way to a fresh bounce.

Focus is on critical resistance at congestion around 3.000% and the 3.024% multi-year high of October 2023.

A tick higher in monthly stochastics highlights potential for a test above here.

This will confirm a multi-month period of rising yields, as yields continue to correct the 1981 bear trend and extend gains from the March 2020 year low of -0.908% towards congestion around 3.500%. However, bearish longer-term charts could limit any initial tests of here in fresh consolidation.

Meanwhile, support is at congestion around 2.500% and extends to the 2.436% monthly low of 30 April.

Rising weekly charts should limit any pullbacks in consolidation above here.

A close beneath here, however, would add weight to sentiment and open up support at congestion around 2.300%, where rising monthly charts should prompt fresh consolidation.

An unexpected further break would open up critical support at the 1.887% year low of December 2023 and congestion around 2.000%.