Ishares Intermediate Government/credit Bond is slightly down on the day, it isn't making a very large move but still down -0.03%. We'll see if it can keep moving down or not. It looks like GVI may be interacting with a slightly angled resistance line. This area could represent a pivot point. In addition to being near an angled resistance line GVI is near a weak resistance line. If there isn't strong buying pressure the price might bounce off and move back down, but it can always break through and move up. Momentum wise Ishares Intermediate Government/credit Bond, hasn't been very high in either direction over the last 3 month. So hard to say what it will do here.
If it breaks through the resistance level, we aren't seeing any clear resistance points beyond that. So it may have plenty of room to work up from there. If the price reverses and heads back down lower, it looks like the nearest support level is $104.81 it may head back up from there or break lower.
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