TLT is the safehaven to park $$$$$ for investor during market downturn. After peaking at top of uptrend channel on 15 Oct, it has been sell down to the channel bottom. Bollinger band is still curving down. Current price are in retracement red channel of larger uptrend channel. If there is a breakdown, i would monitor very closely at 117.38 as S/R reference. Though a breakdown seem bearish, the channel in RSI still remain intact if RSI broke the brown trendline and find support at RSI channel bottom. I would expect a false breakdown and then somehow a hammer will be formed for price to go up. If this is the case, it would mean the opposite direction for stock market.
Note: Perhaps this will happen in my dream..
Comments
tradearcher
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Nice projection.
jangseohee
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Thank you, actually it is really NOT my projection
I follow the price movement which in term forms an uptrend channel
But as i am obsessed with TREND channel once i draw it it make sense hence i posted it
the big spike (shadow is not for show), TLT is about there for next two days most probably
My entry at 118.76, getting ready to unload for profit soon