The chart that tells me that we should expect at least a short-term bounce in iShares 20+ Year Treasury Bond (NASDAQ:TLT) is the following. Technically we are at important short-term support and at least a bounce towards 125-126$ should be expected.
TLT has reached the red upward sloping trend line support and the Daily Kumo (cloud) support. A technical bounce could unfold from current levels towards 125-125.50$ at least. Such a behavior will have bearish implications of the longer-term trend as depicted below.
In my automated system price has broken below the dual indicators and the green trend line support. Confirmation of a trend change will come with a lower high (bounce towards 125.50$) and a back test of the broken trend line. A longer-term trend reversal will be shown by a rejection around 124-125$ and then a lower low. But lets not be hasty. First let’s see if we get the initial bounce.
Disclosure: None of the information or opinions expressed in this blog constitutes a solicitation for the purchase or sale of any security or other instrument. Nothing in this article constitutes investment advice and any recommendations that June be contained herein have not been based upon a consideration of the investment objectives, financial situation or particular needs of any specific recipient. Any purchase or sale activity in any securities or other instrument should be based upon your own analysis and conclusions.
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