I am sorry for the previous chart. please ignore the morning chart. However analysis and outlook are very similar.
For the moment, please do not look at fundamentals and focus on charts. All said and done about rising concerns for yields ofgovernment securities, we are amidst one of the sharpest bear market rallies in G SEC ten year benchmark paper.
The ten year benchmark is going through a technical pull back. The RSI gave last week clear bullish divergence on hourly charts to take long positions. Interestingly it took support near the start of a major rally previously around 100. The daily RSI is still oversold and looks for jump up in prices to around 101.70 levels but hourly chart is finding resistance in the upper zone fixed for bear market rally i.e 55-65. I find the bear market rally in ten year paper will find stiff resistance around 101.50-70 levels where there is confluence zone of two Fibonacci levels derived from different swings. For the moment, the next short sell level is 101.70 with a stop loss of 102.20 for the next leg down. Riding the bear market rally. have fun.