The long bond (TLT – 20-year bond)bounced back into the uptrend channel last week.
This price move didn’t make any impression on us and more likely indicates that someone was manipulating the bond price.
It could be a fake push back move, just to retest the broken uptrend line.
Or it could move back up to 94 line if the 92 area holds in the next several weeks.
We don’t want to trade this before the Fed rate decision coming on Wednesday.
This is an excerpt from the Naturus weekly Market Preview. To see the full document, visit http://naturus.com
TLT – Long Bond Daily chart
