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TLT Update…US Bonds and Gold an Odd Couple

Interest-Rates / US Bonds Jan 25, 2017 - 11:07 AM GMT

By: Rambus_Chartology

Interest-Rates

Lets start by looking at a weekly chart for TLT, 20 year bond etf, which shows it built out a H&S top last summer. That H&S top is a reversal pattern that showed up at the end of its bull market which has been ongoing for many years. There is a big brown shaded support and resistance zone that has been offering support.


This next chart is a 15 year monthly look at the TLT which shows it has built out a four year 5 point bearish rising wedge which broke to the downside in November of last year. If there is a backtest it would come in around the 129.75 area.

TMV is a 3 X short the TLT.

This last chart is a combo chart which has the TLT on top and GLD on the bottom. It’s not a perfect correlation by any means but these two have been moving together pretty consistently over the last year or so. GLD is currently backtesting its neckline and a support and resistance line going back a year and a half or so. If GLD can trade back above the neckline and the S&R line the bulls will be talking to us. To say this is a critical area for GLD is an understatement. Definitely an area to keep a close eye on.

All the best

Gary (for Rambus Chartology)

http://rambus1.com

FREE TRIAL - http://rambus1.com/?page_id=10

© 2017 Copyright Rambus- All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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