The US 10-Year Treasury Note future is testing its short-term falling trend line. Down trend is stretched, and the future could see a correction up to key strong resistance at around 114. Some resistance at 11 28/32.
If the future drops back and takes out lows at 108 26/32 and RSI closes below its lower rising trendline further down trend is confirmed.
The T-Note Future has dipped below support at 111, down to levels not seen since 2007 in what looks like 5th exhaustive vawe lower reaching 0.618 Extension of vawe 3 and 1.618 projection of the 4th corrective vawe. It would be classic exhaustion levels for a 5th vawe.
RSI is at levels not seen in decades but there is no divergence. However, if RSI breaks above its falling trend line a larger correction could be seen.