The popular treasury bonds etf (TLT) has been trading in a very tight space for months. Or better stated, it has been narrowing/tightening for months.
This all comes after a precipitous 2-year decline from 2020 into 2022.
Above you will find today’s long-term “monthly” price chart of the 20+ Year Treasury Bond ETF (TLT).
As you can see, TLT has been in a narrowing pennant pattern for the past 9-months, frustrating both bulls and bears.
The MACD momentum indicator could be creating a bullish crossover at (2), from the most oversold levels in the past 17-years. Similar crossovers are marked at each point (1) and have produced big rallies.
Should TLT breakout at (3), it would send its first bullish message in a LONG time. Stay tuned!
This article was first written for See It Markets.com. To see the original post CLICK HERE.
