Taking a deeper focus on the TLT chart, we can see the strong resistance in place around the $130 level which has held five out of six times over the last three years and also lines up with resistance potentially coming from the long-term down trend line. Above this level, further resistance comes in at all-time highs around $140. Key support for TLT can be found around the $121-$123 level. Should the $121 level give way, the next level of support would be $119.25 and below this at ~$115.
With an SMAX of 6 out of 10, TLT is holding some near-term strength relative to some broad asset classes.
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