shomikghosh2
Long

TLT Chart Looks Very Bullish for Bonds

AMEX:TLT   ISHARES 20+ YEAR TREASURY BOND E
28 0 0
Disclosure: Long Jul 113 TLT             Calls

From the chart above you can see all the makings of a beautiful technical setup. The RSI is strong, A/D line is rising, and the etf is clearly in a rising uptrend. The channel is marked by the two turquoise lines above. As you can see, on Thursday TLT             hit the top end of this channel and is now retracing a little on a stronger than expected jobs report. However, it is still clearly in an uptrend and above the 8 ema. These are all bullish signals and still make me a bond bull until the channel is negated. Look to go long here on further pullbacks. 2.6% is strong resistance on the 10-year, however, resistance levels weaken the longer they are tested so i think bonds are primed for a further breakout.
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