I Went Down to the Crossroads
I'm showing the iShares Barclays 20+ Treasury ETF (TLT) at a very important crossroads. We've recently seen a beautiful rally off an old support decision in this ETF that came in at the $117.89-118.37 area. This lift off came as we started to see the stock indices falter after making some major Fibonacci price extension highs.
Now that I'm seeing the possible resumption of the stock index rallies, I'm currently watching the resistance in TLT for a possible failure and sell entry. This larger zone comes in at the $125.13-126.80 area. I can actually break it down into two resistance decisions. The first one comes in at the $125.13-65 area and includes a 50% retracement of one swing, a 786% retracement of another swing along with a 100% price projection of a prior rally swing of $7.20. The second zone comes in at $126.18-80 and it includes the 100% projection of the prior rally swing that lasted $8.13 along with a 0.618 retracement of a larger swing. ...309 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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