TLT weekly bullish engulfing amid increasing unemployment report
Bullish argument:
Double monthly volume spike at approx 85$ support level
Weekly double bottom
Friday daily pump amid increasing unemployment rate report
Closed weekly bullish engulfing or bullish three line strike signaling beginning of a potential uptrend
Bearish arguments:
Bonds are known to move super slow percentage wise.
Conclusion: The weekly bullish engulfing amid unemployment rate uptick most likely signal the beginning of a bull market for bonds as central banks will react to this news by starting to lower interest rates to stimulate house purchases and manufactured goods that comes allow with owning houses which will increase job demand.
Double monthly volume spike at approx 85$ support level
Weekly double bottom
Friday daily pump amid increasing unemployment rate report
Closed weekly bullish engulfing or bullish three line strike signaling beginning of a potential uptrend
Bearish arguments:
Bonds are known to move super slow percentage wise.
Conclusion: The weekly bullish engulfing amid unemployment rate uptick most likely signal the beginning of a bull market for bonds as central banks will react to this news by starting to lower interest rates to stimulate house purchases and manufactured goods that comes allow with owning houses which will increase job demand.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.