TLT broke down a daily triangle, testing all levels of a powerful zone that comprises of 2 daily pattern & 1 intraday pattern PRZ (Potential Reversal Zone) between 115.56 to 114.5.
Potential bounce into resistance that has duel timeframe confluence at 115.9 region -this will be an important test for two scenarios
1 – To find out if the triple bullish PRZ will begin retracement mode, having initial resistance test at 115.9 region, then ideal minimum retracement around 121.3 OR
2 – To find out if the triangle break was a false breakdown or valid, in which case price has duel timeframe confluence support target at 112.5 region for another double bullish PRZ.
