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Bond

iShares Barclays 20year Treasury Bonds (NYSE:TLT) : Watch the support

TLT open with a gap up yesterday which sees it challenging the Tenkan sen.

It fails to go above the Tenkan sen and closes lower than its opening price level.

With the weakness from yesterday’s closing, TLT open with a gap down and is now trading near its support at around $100.22

A break below this support shall see it heads towards the next target price of $98 range.

Currently, it is sitting on the support from the Weekly Chart which happens to be the Kijun sen (trend line).

So, this is a critical support for TLT for those holding long.

For the shortist (including myself), we would like to see it heads towards $95 on the Weekly Chart and break the kumo support there.

By iam802

Trend trading with Ichimoku