iShares Barclays 20year Treasury Bonds (TLT) : Bearish Cross

A possible bearish cross is coming up for TLT.

From the Ichimoku chart, we can see that the price level is still above the kumo but the kumo is fairly thin.

Also on the chart, we can see that the Tenkan sen is going to cut the Kijun sen. Further to the right, the kumo seems to suggest that it is going to ‘twist’… another suggestion that the trend will change.

The key support / resistance point for the chart is highlighted by the Chikou Span (circled in yellow).

I have a short on TLT since its last rally as I believe the price will not go above the Kijun sen. And with the Tenkan sen so near, it is likely to add extra weight to the resistance.