Dual multi-year channel resistance comes into play in the 10-year rate at (1) in the chart below. Since last summer, the rally in yields has been brutal to the price of bonds, as the yield on the 10-year notes is up 100%.
My Strategy, TB&M (Tops, Bottoms and No Middles) has members long on bonds at this time, with a specific stop in mind based upon past patterns.
The majority of the time, bonds have rallied in price/yields have declined when at the top of this channel and few investors were bullish bonds.