Weekly chart of TNX; RSI @ 40.04 and approaching an important level of 38.2. There have been couple instances of a significant rebound in rates off this RSI level, namely Sep 2017 and Aug 2020. Equally, rates have fallen sharply when this RSI level is breached, Apr 2019 and Feb 2020. So, this RSI level is worth watching. Notably, the MACD is still declining, so momentum is still negative.