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TLT has rallied over 25% inside this channel…support going to hold?

By Chart School
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Courtesy of Chris Kimble.

Shared the chart below yesterday, reflecting that TLT was facing a potential “Double Top” up against a key Fibonacci Expansion/Extension level (see post here)

 CLICK ON CHART TO ENLARGE

Equities are having a nice rally today and TLT is down almost as much as SPY is up.  If you own TBT, its not a bad day to say the least!  TLT now is facing a key rising channel support line that has contained TLT during its 25%+ rally in the past 63 days.  See Below…

CLICK ON CHART TO ENLARGE

Support is support until broken and this is one steep support line!  If TLT takes out the bottom of this rising channel, the TBT gains of today will enlarge a ton!

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