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TLT hit long-term resistance (red line) of late and quickly declined around 10%. TLT has rallied a small percentage the past 10-days, taking to the underside of a 6-month rising channel.
This week TLT could be kissing the underside of resistance, with momentum at levels seldom seen the past decade.
It could be worth keeping a close eye on TLT in the next few days/next week, to see how it handles this resistance point.
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Frank, Weakness at this resistance could well end up being a key price point for TLT. Good place to short (TBF) with a tight stop. Thx for your viewership. Chris
Hi,
I am somewhat new to this but according to the chart, whenever momentum is at this level (above 70) a drop soon follows. Is this what you are suggesting but need more confirmation? Is TBT the trade to take?