Like 10-year T-notes, the major (long-term) trend of 30-year T-bonds is down. In the case of bonds, the bearish reversal pattern was created during August 2020 as the nearby futures contract posted a bearish outside range before closing at 177-12, down 4-29 for the month. Since the the market has consistently moved lower, with the month of March seeing it take out some old support just about 155-00 as it hit a low of 153-29. However, monthly stochastics are in oversold territory below 20% and moving toward a bullish crossover, possibly limiting continued downside potential. While the market has not seen a bullish reversal pattern yet, one could develop over the coming months. As we take our first steps into April the best candidate for a reversal pattern seems to be a 2-month reversal, of if the March low is taken out a spike reversal is possible. Neither are the most reliable, so we will need to keep an eye on the interest rate complex as a whole. As of this writing the yield on the US 30-year T-bond was 2.358%, off its high of 2.456% posted March 18.