Bonds: 10-12% further downside?

Based on the TLT pattern shown here, bonds may have much further below to go.

They've continued to steadily sell off as rates have continued climbing, and show no signs of a long-term bounce.

Target 1 has been breached, leaving target 2 in the crosshairs: $86-87.

Trade active:

$TLT down another 2% to $98 post CPI print.

The grind down continues...

Trade active:

News lows today...

Trade active:

New lows again: $97.04

Trade active:

Another day, another new low: $96.46

Trade active:

Now $95.57

Trade active:

Now $92.83

Trade active:

Now $91.90