/ZB (30-yr Treasury bond futures) has just hit the 125’283 target/resistance level with potential divergences forming on this 60m chart. As such, the odds for a pullback are elevated at this time. A potential pullback target for active traders reversing from long to short here would be the uptrend line off the Nov 8th low & the intersecting 123’315 support, which also forms the bottom of a potentially bearish rising wedge pattern.
ZB 60m Nov 16th
Likewise, TLT (30-yr bond ETF) is approaching the 100.63 target/resistance on the daily time frame where a pullback is likely before the next leg up.
TLT daily Nov 16th