After a period of consolidation, treasury bonds may be set to move lower once more.
As you can see in today’s chart of the long-dated Treasury Bonds ETF (TLT), momentum has turned lower and a minor trend-line off the March low has been broken.
This reversal lower has an initial trading price target of $131 but could slip down to $127. It’s been a tough past year for bond bulls. It may take a bit more selling before we see a stronger relief rally. Keep an eye on the recent lows…
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