Time to buy $TLT for a trade to $100?I think we could see a short term rally in $TLT.
On low timeframes today, it looks like we've formed a double bottom and that price is bouncing off of the lower trend line. I think we could see a rally up into the $100-102 region from here.
My base case is for price to reject that region and then form one more leg lower before a sustainable bounce in bonds.
Let's see how it plays out. I marked off both levels to the upside and to the downside to account for both scenarios once price has broken out of the structure.