I cant seem to get an accurate wave count on TLTs but following the trend for the year is been to the up side. Sense the beginning of the year price has been in a channel higher, Resistance is @128.57 the 2017 High and near term support @126.26 Looking at Gold which is making new highs for the year, Bonds on the other hand has yet to se that momentum. If the rising bottom channel breaks then I would Reevaluate my assessment, until then my medium term bias is to the up side.
Key medium term Levels to Note:
- 128.57 2017 Highs Key Resistance
- 130.00 2016 Gap and of the highs of 2016 to the low of 2017
- 126.00 Key support