TLT: Bonds ready for a big bounce?TLT (20+ Years Treasury Bond ETF)
Huge drop since January 2022.
If you connect all the big lows since 2013 and draw a line you will notice that TLT is now sitting on a huge support and has starting to bounce off the 119 level (Green line).
RSI weekly and daily oversold.
Let's see if we can get a decent bounce.
I'm long April 29 call. We can target 125, then maybe 130.
Stop loss at 119.
Trade safe