Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Treasury Bonds on the Verge of Breaking Out

Published 06/07/2023, 01:10 AM
Updated 07/09/2023, 06:31 AM

The popular iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) has been trading in a very tight space for months. Or better stated, it has been narrowing/tightening for months.TLT Monthly Chart

This all comes after a steep 2-year decline from 2020 into 2022.

Above, you will find today’s long-term “monthly” price chart of the 20+ Year Treasury Bond ETF (TLT).

As you can see, TLT has been in a narrowing pennant pattern for the past 9-months, frustrating both bulls and bears.

The MACD momentum indicator could create a bullish crossover at (2) from the most oversold levels in the past 17 years. Similar crossovers are marked at each point (1) and have produced big rallies.

Should TLT breakout at (3), it would send its first bullish message in a LONG time.

Latest comments

hello
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.