Although markets are still sideways relative to the bigger volatility of the previous 3 weeks, bond yields have trickled lower this week. This brought 10yr yields just outside their prevailing range yesterday morning, but they moved back up by the afternoon. Now today, they have another chance to break the range.

The range, in this case, is upwardly-sloped.  Technically, that makes it a "trend channel" in market jargon.  Either way, we can plot lines resting along the highest and lowest closing levels each day, and those lines are parallel (yellow lines below).