TLT: Bonds ready for a big bounce?
TLT (20+ Years Treasury Bond ETF)
Huge drop since January 2022.
If you connect all the big lows since 2013 and draw a line you will notice that TLT is now sitting on a huge support and has starting to bounce off the 119 level (Green line).
RSI weekly and daily oversold.
Let's see if we can get a decent bounce.
I'm long April 29 call. We can target 125, then maybe 130.
Stop loss at 119.
Trade safe
Huge drop since January 2022.
If you connect all the big lows since 2013 and draw a line you will notice that TLT is now sitting on a huge support and has starting to bounce off the 119 level (Green line).
RSI weekly and daily oversold.
Let's see if we can get a decent bounce.
I'm long April 29 call. We can target 125, then maybe 130.
Stop loss at 119.
Trade safe
Comment:
Long May 20 call, not April
Comment:
Now retesting that green line where it broke down. Let's see if we go back above it.