Treasury Bonds: Will This Triple Bottom Prove Bullish?

Treasury bonds have underperformed other major asset classes since topping last summer.  But the 20+ Year Treasury Bond ETF (NASDAQ:TLT) may be finding some footing.

That is, IF the chart pattern show below is confirmed.

I shared the chart below last Wednesday. And, as you can see, bonds (via TLT) are in the process of forming a triple bottom.  In fact, when we factor in the rally Wed-Fri of last week, TLT is right at the neckline of the pattern (after closing at 123.71 on Friday).

Keep an eye on that blue neckline.  A breakout higher would confirm a bullish reversal for bonds that would change the current dynamic in the market. BUT, the pattern has not yet been confirmed so patience is key.

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20 Year Treasury Bond ETF (TLT) Chart – Bottoms Up?

Thanks for reading and have a great weekend.

 

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Twitter:  @KimbleCharting

Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.