Long term treasuries deteriorating
Analyzing weekly reversals of the 20+ year Treasury Bond ETF (TLT), a significant long term pivot area is identified just below trading trading today. The TLT is trading today at $142. The pivot area (support and resistance) where a high number of reversals occur, is $141.60. Continued selling, and closing under the pivot suggests a continuation of deterioration. Interest rates continue to rise. The stock chart below shows the TLT pivot area.
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| Long Term Treasury Bond ETF (TLT) |
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