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Bond

iShares Barclays 20year Treasury Bonds (NYSE:TLT) : Weekly Support breaks

TLT has fail to hold on to its $90.6 support level; a level that it has manage to hold since early December.

The break came on Feb 1 but the trading range is very narrow.

In my opinion, the real convincing break came Feb 3 where the candle clearly shows that it attempts to go above the 90.60 level but end up closing lower at 89.6 region.


With the break, TLT chart is showing that its downward trend is going to continue.

Weekly Support has fallen and out target on the Ichimoku Weekly Chart is $88.73

On the Ichimoky Daily Chart, we can see that both the Tenkan sen and Kijun sen has started to point downwards instead of pointing flat.

By iam802

Trend trading with Ichimoku