Treasury Bonds on the Verge of Breaking Out
TLT
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The popular iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) has been trading in a very tight space for months. Or better stated, it has been narrowing/tightening for months.
TLT Monthly Chart
This all comes after a steep 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 create 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.
