Every single economic recovery has been met with rising rates and with the yield at such a low level there is plenty of room to run. Look for a test of the upper channel trend line.
Banco Bradesco could be in the first stage of a repeat of the pattern flagged starting at the end of May. Many headwinds working against this company at the moment doesn't help either. Short biased.
Many key inflection points coming into focus in the short term for this pair. Time and patience will tell you where the trend wants to go. However, I am leaning towards the short side as the chart suggests a bounce off the trend line drawn from lower highs dating back to 2008.
TLT should make a run at the $110.28 - $111.50 range for a shot at heavy resistance in the short term. Watch these levels for they could prove to be the stick that breaks the camels back and send bond prices back down to test its previous low of $106.17. This level is also the top that TLT established in 2008. Break of this long term support in my view could have...
