TLT Potential Inverse H&S
TLT exhibiting a potential inverse H&S bottoming formation. Amazing how many contrary charts formation are out there, however I put more weight in directional movement based on bonds rather than equities.
If blue trend line is broken, this setup will be null and void. If breakout above black neckline, this must hold as support (neckline is a little hairy, so target price projection is slightly tough to forecast).
Considering RSI in the indexes is waning, this helps the bullish case for bond prices. Next week will be determination time.
If blue trend line is broken, this setup will be null and void. If breakout above black neckline, this must hold as support (neckline is a little hairy, so target price projection is slightly tough to forecast).
Considering RSI in the indexes is waning, this helps the bullish case for bond prices. Next week will be determination time.