The daily on-balance volume (OBV) has formed lower highs (line e) with key support at line f.
The OBV did make new highs this week, line d, and is well above key support at line e.
Two weeks after the highs (line 1), the RSI dropped below key support at line C.
The weekly chart shows that key support (line g) going back to 2010 was tested in August.
The yield is currently above its 20-day EMA, with first key support (line f) now at 1.71%.
Before the key support (line a) was broken the RS was already forming lower highs and lower lows.
The weekly OBV has also dropped below its WMA with key support at line d and the early 2012 lows.
Given the oversold reading of the RSI3, a break of the key chart support (line a) may be followed by a rebound.
The potential double top formation, points 1 and 2, is quite clear on the daily chart as is the key support at line a.
The chart shows that key support (line a) has not been broken, and so far the selling does not appear to have been that heavy.
The key relative performance support at line e was broken in September and the RS line is now dropping sharply.
The weekly on-balance volume (OBV) is acting stronger than prices, as it just made new highs and is well above its WMA. Key OBV support now sits at line c.
The key support going back to late 2012, line c, has now been broken.
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