TLT bounced around its intermediate-term support area. The bond price is sensitive to equity market moves, and TLT is currently waiting for the FOMC announcement and a short-term equity market TOP to make its decision on the next move.
TLT is approaching oversold territory. Currently selling pressure has been decreasing. But we may still see a final shakeout move first before TLT can make a decent correction bounce.
Current support is around 90.50 level. The major second support is around 88-87 range.
As long as 85 line is not breached, we are looking for long side entry with major stop loss 85.
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