Bond prices about to get slammed? Rates about to move sharply higher?
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TLT created a rather large bearish rising wedge at (1) and broke below this patterns support line. A potential bearish "Head & Shoulders" topping pattern looks to be taking shape. A "Lower Right Shoulder" may well have been formed on the rally of late.
For this pattern to come true and TLT to continue falling in price/interest rates moving higher, TLT first has to break support line (2).
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