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
![](https://cdn1.wavetraders.com/wp-content/uploads/2024/05/TLTAPR26.png)
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.
![](https://cdn1.wavetraders.com/wp-content/uploads/2024/05/tltUPDATE.png)
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