After a breakout and steep rise in bond yields (interest rates), traders have seen interest rates pull back.
In turn, that means that treasury bond prices have bounced. And this means that a key US Treasury Bonds ETf (20+ years) – $TLT – has been bouncing off steep losses.
Make no mistake, US Treasury Bonds are in a steep decline… especially the ETF $TLT.
That said, $TLT is testing an important short-term resistance level that is worth watching (see chart below). This is a dual resistance level including its down-trend line and 50-day moving average. Treasury bond bulls want to see $TLT rally past this resistance level.
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$TLT 20+ Year US Treasury Bonds ETF Chart
Twitter: @andrewnyquist
The author may have a position in mentioned securities at the time of publication. 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.
