TLT is within a day’s rally of an important resistance, a midpoint Hidden Pivot at 121.28 (see above) that is associated with a target at 124.23.  If that last number were to be achieved, it would correspond to a drop in T-Bond rates to 2.83% from a current 3.02%. It is what happens after that that’s important, however, since the target is compelling enough that we should expect a tradable pullback from it. If instead the futures push past 124.23 with little effort, especially after a stall that has lasted less than three days, it would strongly imply that the felicitous trend in long-term rates is likely to continue. If you don’t subscribe, click here for two weeks' free access to Rick's Picks, including daily, actionable 'touts', round-the-clock updates, impromptu tech analysis sessions online, and a chat room that draws experienced traders from around the world at all hours of the day and night.

| Digg This Article
 -- Published: Wednesday, 8 February 2017 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus
Previous Articles by Rick Ackerman