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'Head & shoulders' chart signals rates to fall

Traders in the 10-year bond options pit at the Chicago Board of Trade signal orders.
Frank Polich | Reuters

Technicians have been calling for a near-term top in Treasury yields, and now some see a chart pattern that shows rates could go down as easily as they went up.

On Tuesday, a "head and shoulder" formation was developing in the 10-year yield. That pattern could spell a reversal, and a decline in yields.

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