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Huge Reversal Candlestick Off Resistance On Long-Dated US Treasury Bonds

Published 10/19/2014, 12:27 AM
Updated 07/09/2023, 06:31 AM

Below is a weekly chart of the iShares Barclays 20+ Year Treasury ETF (ARCA:TLT), which tracks an ETF tracking 20+ year US Treasury bonds. The chart shows a huge reversal candlestick, complete with a long wick that sticks out like a sore thumb, forming right at a resistance level after a sharp run-up. Further note that the highs the market bounced off here are also lower than the 2012 highs.

20 Year Treasury Bond IShares Chart

Has the US Treasury bond market reached a near-term top? Could we be headed to support just above 101 (the orange line on the chart)?

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