TLT has been trading sideways since Dec. 2023 near the red resistance line. July’s monthly candle close was slightly bullish, but TLT has started to show some strong momentum in August. TLT is currently above the $96 resistance line, and I think there could be a lot more long-term upside for U.S. bonds.
10 Year Bond Yields Suffer Sharp Decline
10 year bond yields have lost support at the yellow trendline, and are experiencing a sharp decline after a bearish monthly candle close in July. I have 3.612% as the next key support level for 10 year bond yields. As bond yields decline bond prices are likely to rise. The declining bond yields are also bullish for financial markets.
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