iShares Barclays 20year Treasury Bonds (NYSE:TLT) : Counter trend may ends

TLT make a counter trend rally 2 days back.

On the Ichimoku Daily Chart, it seems like it is showing signs of weakness when it close the day with a doji and price level did not manage to pierce above the Tenkan sen.

On the Ichimoku Weekly Chart, it is showing uncertainty as the Chikou Span is hitting the Support level.

Kumo support is thin below. For the trend on the Weekly Chart to sustain, it needs to stay above the $95 level and move up till at least $97 by end Dec.

Failing to do so, will suggest that TLT is staying below the leading kumo in December and is in a sustained bearish mode.

Also, on the Weekly Chart, we can see that the Tenkan sen has cut the Kijun sen downwards. With the Tenkan sen on the Daily Chart in a very strong bearish mode, it suggests that the counter trend rally may not hold and there is more downside.

By iam802

Trend trading with Ichimoku