iShares 20+ year Treasury Bond ETF (US: TLT) has rebounded steadily since May onwards where the strong upside has confirm that it is a sub-impulse 5-wave move. Further technical indicate that TLT will head for a new high:

1. Current wave analysis indicate that sub-wave ((iv)) has been completed after prices rebounded strong on mid-August by comfirming a bullish morning star formation.
2. Strong bullish breakout of the flag formation indicate more upside to come. Of course, if prices is able to break above US$152.14- US$152.71, then we would confirm a minute wave count of sub-wave iii of the larger wave ((v)).
3. Target price level for wave ((v)) is at 161.8% extension level of the flag at US$157.09 and expansion level 200.00% of wave ((i))-((ii)) at US$157.52.
4. Golden cross is observe and prices recently manage to sustain closure above the 22-period short-term moving average.

*Expected timeline of the trade is 15 weeks from the date of report issuance.

CHART LEGEND

Moving Average

Red dotted line = 200 Periods MA

Blue dotted line = 63 Periods MA

Green dotted line = 22 Periods MA