TLT (20+ Year Treasury Bond ETF) is testing uptrend line support with the RSI testing the 50-level (midpoint) line, which often acts as support & resistance when tested from above or below. The PPO is also starting to turn back up, poised to make a bullish crossover should TLT rally off this test of trendline support, which appears likely.
TLT daily Feb 5th
The 122.50ish level may still come into play as resistance while the Jan 3rd reaction high of 123.86 the next potential resistance/target level. Should this bullish scenario for TLT play out, it would most likely coincide with a pullback in the equity market with Treasuries catching a flight-to-safety bid.