TLT Is Coming Into Key Support Within A Corrective Decline
Apr 26, 2024

TLT

Treasury bond TLT has been trading lower since the start of 2024, but after an impulsive rally at the end of 2023, we believe it’s just making and finishing a deep A-B-C corrective decline. It’s actually now coming into key strong support zone at 61,8% – 78,6% Fibo. retracement and channel support line, from where we should be aware of bounce, recovery and continuation higher back to 2024 highs. Just keep in mind that bullish confirmation is only above channel resistance line near 92.00 region, while invalidation level remains at 82.45.

TLT Is Coming Into Key Support Within A Corrective Decline TLT 4H Chart
TLT 4H Chart

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