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Tuesday, July 5, 2022

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Can Treasury Bonds (TLT) Reverse Higher From Historic Oversold Level?

Courtesy of Chris Kimble

It’s been an ugly couple of year for US Treasury Bonds. T-bond prices have dropped sharply as yields have risen.

This has been an added pressure on retirement portfolios as treasury bonds are no longer trading like a conservative asset.

Time for a bounce in T-bonds?

Today, we take a look at the long-term “monthly” chart of the 20+ Year US Treasury Bond ETF (TLT).

As you can see, 2 years ago bonds peaked and formed a historic bearish reversal pattern at the highest momentum reading ever.

Since then, bonds have been in a sharp decline. Currently, the 20-year bond ETF (TLT) is testing support at its 61.8 Fibonacci retracement level (using 2004 lows / 2020 highs). So far this month TLT has rallied back from a sharp decline.

Could TLT form an equally impressive bullish reversal this month (from historic oversold levels)? We should know the answer at month-end! Stay tuned!!

This article was first written for See It Markets.com. To see the original post CLICK HERE.

To become a member of Kimble Charting Solutions, click here.

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