$TLT looks like it's heading to the $120 range
Updated
TLT looks like it's formed a massive weird looking head and shoulders pattern on the weekly timeframe.
So far, it's managed to hold support in the $134 range. However, that range has been tested a number of times now that I think the next time it test on larger timeframes, support will break. There's little support between here and the 120s so the next logical target to me is at $122-123.
Eventually, I can see it hitting the lower targets at $114.
Let's see what happens over the next few weeks and months.
So far, it's managed to hold support in the $134 range. However, that range has been tested a number of times now that I think the next time it test on larger timeframes, support will break. There's little support between here and the 120s so the next logical target to me is at $122-123.
Eventually, I can see it hitting the lower targets at $114.
Let's see what happens over the next few weeks and months.
Note
Initial target hit. Bought some calls on TLT yesterday as I think we'll see a bounce before we continue lower.
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