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Over the past 8-years, TLT has created some interesting highs and lows and volatile moves along channel lines (A) in the chart above.
TLT is testing triple support at (1) above.
This is a price point where TLT could bounce.
So many wonder what the Fed will do per interest rates going forward. Should support give way at (1), regardless of what the Fed does, a break of support should be concerning for bond bulls.
Joe Friday just the facts….At this time a test of triple support is in play for TLT and it looks like a price point that its important for bonds that support holds!