DailyPlay (TLT) – November 3rd, 2021

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The bearish DailyPlay for Wednesday, November 3rd is the 20+ Year Treasury Bond ETF (TLT). TLT has experienced a 1.46% gain in the last month.

Technical View

• Price rallied back above the $146 resistance level but poor momentum indicates downside. 
• Declining technical score (6 out of 10)
• Price rejecting 100 D MA.

Fundamental View

• Very high probability of monetary tapering to be confirmed by the Fed.  
• Several participants preferred raising interest rates faster than market anticipated timelines
• Inflation metrics continue to outpace initial forecasts. 

As this is a Credit Spread, look to take profits at 50% and cut losses at 100%:

• Take Profit: $0.77 Debit
• Stop Loss: $3.06 Debit

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