Elliott Wave Analysis of TLT 20 Year Treasury Bond ETF

Wave Pattern Traders Team Wave Pattern Traders

The move from the Jul 2019 lows appears to be developing as an impulse wave (5 wave rally), a new high still appears to be needed, so I favor we still see minor new highs on both ZB and ZN. Whilst TLT remains above $136.00, I still think one more high can be seen, it's then it can potentially offer a bearish setup for a move lower.

As TLT and ZB move to a new high, TYX is expected to make new lows to end the 5th wave of an impulse wave from the Jul 2019 high (2.67%). Expect the media to freak out, a rally on TYX (yields move higher) can develop from new lows.

TLT

TYX

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Wave Pattern Traders Team

Wave Pattern Traders

Specialists in the use of Elliott Wave, Market Analysis, Fractals & Fibonacci.

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