Saturday, June 27, 2009

TLT (iShares Barclays 20+ Year Treasury Bond Fund) - Bond rally in progress

Weekly chart indicates we had a significant Reversal in the Bond market trend accompanied with a record volume and a Hammer candle pattern.

The support came at the 144-Week MA which already held 3 tests as evident from the chart.

For the time being TLT Bond Fund is trading in the 90 - 89 range and in the coming week will test the immediate Resistance of the Trendline from the December 2009 Highs. next test is the 97-98 level defined by Sept '08 Hihgs and the 55-Week MA. This week Treasury auctions had good results and participation thought there were different interpertations of the 'Indirect' participants true identity.

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