When market started to plunge for the 1st 30 mins, this safe haven bond had a breakout of the accelerated channel. Since channel are valid at least 70-75% of the time IMHO, the price was rejected at the way down to the channel top.
My projection:
Market will have another pseudo plunge again, simultaneously, TLT price will make another attempt to break through the upper channel, IF rejected again, i foresee a retracement at least back to channel bottom and then continue to rise through the channel which means market will have a short rally and then have 2nd leg of plunge (Path 2)
Or if the price of TLT retraces and break down, then new evaluation will have to be conducted. This would also mean that market will have stronger bounce back rally.
But there is an upside resistance for TLT to break through, 127-132.
My projection:
Market will have another pseudo plunge again, simultaneously, TLT price will make another attempt to break through the upper channel, IF rejected again, i foresee a retracement at least back to channel bottom and then continue to rise through the channel which means market will have a short rally and then have 2nd leg of plunge (Path 2)
Or if the price of TLT retraces and break down, then new evaluation will have to be conducted. This would also mean that market will have stronger bounce back rally.
But there is an upside resistance for TLT to break through, 127-132.
