Bonds

TLT Is Bouncing From Key Support As ExpectedMay 16, 2024

TLT Is Bouncing From Key Support after we noticed and A-B-C corrective decline from technical point of view and by Elliott wave theory.

We have been talking a lot about bullish setup formation on Treasury bond TLT in the last couple of months. We also shared a free chart on April 26, where we mentioned and highlighted key support within an A-B-C corrective decline. CLICK HERE

TLT 4H Chart From April 26

As you can see today, TLT is nicely bouncing and recovering after we spotted a completed A-B-C corrective decline. With current break above channel resistance line, seems like it’s getting ready for a new impulsive rally that can send the price back to yearly highs and 100 area.

TLT Daily Chart From May 16

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