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
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Later on May 16, TLT nicely bounced after we spotted a completed A-B-C corrective decline. With a break above channel resistance line, we were pointing for a new impulsive rally that can send the price back to yearly highs and 100 area. CLICK HERE for an article from May 16th.
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As you can see today on August 1st, TLT is grinding impulsively higher and there is plenty of space to complete a lower degree five-wave bullish cycle towards yearly highs and 100 area, just be aware of short-term pullbacks.
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