The US Treasury future seems to have found support at $111 in what looks like the fifth wave lower.
If this is the fifth vawe lower, it should as a minimum be as long as the first vawe which has been reached.
However, (and now it gets a bit nerdy, sorry) fifth vawe will often be longer than vawe one. It usually moves to the 1.618 projection of the fourth vawe (red set of Fibonacci levels), close to the 0.618 Extension level based on the third vawe (blue sets of Fibonacci levels) AND close to the 1.382 projection of the 201-2020 bull market (green sets of Fibonacci levels). In other words, a cluster of Fibonacci levels around 109-108½.
However, if the future closes below support at 111 it could extend the down trend to the 0.786 Fibo Extension level at 105 12and even dip down to the 1.618 projection at 103, close to the 2006-2007 lows at around 104
To reverse this bearish picture the future needs to close above peak of vawe four i.e., above 122.