Price is weak if it rises with good volume but then undercuts the origin of the base rapidly. This just happened in bonds.
– Price undercut a decent rally with good volume within a few hours.
– Price retraced over half the rally in just 3 bars.
The daily view is looking lower too:
– Price was not able to rise over the prior day’s high.
– Price closed lower than prior day’s low.
– seems like price is starting to follow the expanding lower Bollinger Band.
Referencing: Bonds: The Death Of The Dollar (1)