TLT Long Term Treasuries Are Bullish, Next Move to $100
In early July I told my readers about taking profits from shorting treasuries.
Here is the link for the rationale.
Right now the long term treasuries appear strong breaking through the resistance of the trendline and the 50 day moving average on good volume. These points are the lines of war between buyers and sellers. It appears the buyers of treasuries are showing they are in control.
Over the next few weeks the treasuries should be strong and a good place to hide from a market downturn. The next move should go to the 200 day moving average or the $100 area.