10 years treasuries have been pretty volatile so far in 2014. We saw a nice returns in Q1, only to see them evaporate in the first month of Q2 , but has made some gains since. If you look closely , we can see that it has been making lower highs since fall 2013. Support and Resistance have been tested and broken, but seems to have a hard time going back above.
Based on the "lower highs and lows" , I drew a downward channel. Not sure if the price will follow this pattern, but if it does, this could be good news for the markets for a while ( late 2015! ) .
However, looking a longer time frame , the overall direction is still UP ( see chart in comment section). Keep an eye on yields, and of course the FED. :)