Here is the Daily TBond continuous chart. 123.16 has been an important price point for many years and price broke below it again last Dec. There tends to be lots of follow through after a cross when this occurs. The sell off from August is only consolidating below broken major support now in a tight range between 118.20 and 122. Odds highly favour a breakdown below this channel from what I see. Technically a tight channel rectangle during a sell off has the odds at 75% of a further breakdown historically. Technicals are bearish as well. Next support is 114.16 on a breakdown. The last April to August rally has retraced more than a Fib 61.8% retracement which suggests a full retracement of that last rally as well. Meanwhile I guess there is a channel to trade for bond traders.