My TLT short-term view….

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July 11, 2017
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July 11, 2017

The chart that tells me that we should expect at least a short-term bounce in TLT is the following. Technically we are at important short-term support and at least a bounce towards 125-126$ should be expected.

TLT has reached the red upward sloping trend line support and the Daily Kumo (cloud) support. A technical bounce could unfold from current levels towards 125-125.50$ at least. Such a behavior will have bearish implications of the longer-term trend as depicted below.

In my automated system price has broken below the dual indicators and the green trend line support. Confirmation of a trend change will come with a lower high (bounce towards 125.50$) and a back test of the broken trend line. A longer-term trend reversal will be shown by a rejection around 124-125$ and then a lower low. But lets not be hasty. First let’s see if we get the initial bounce.

 

Thank you for taking the time to catch up on my thinking.

Alexandros Yfantis
Alexandros Yfantis

Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.