The US treasury bond market is enjoying a multi-week rally. Bond buyers have targeted the bond market and are pressuring bond prices higher into a key resistance level.
Will resistance hold and reject the rally? Or will the rally stall out and turn treasury bond prices back lower?
Today we look at the 20+ year treasury bond market ETF (TLT) and highlight why it may struggle to overcome key price resistance.
We are bearish here and believe that our MFU-3 price level will serve as difficult resistance. Note as well that the declining 200 day moving average is also a thorn for $TLT.
$TLT U.S. Treasury Bonds ETF Chart
The author or his firm have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
