June 21, 2011
Shares of ISHARES Barclays 20+ Yr Treas (NYSE: TLT) have reached a strong resistance level.
TLT has surpassed both its 50-day and 200-day moving averages and the 50-day average has just crossed above the 200-day average. This is bullish.
Over the past several days, TLT has reached resistance at its 50% retracement resistance level at 97.45. This retracement is for the entire July through January decline.
A decisive close above 97.45 would forecast continued to gains to the next resistance level at 99.52. Should this level be surpassed, we would be looking at a test of the prior 108.56 closing highs.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy does not currently hold a position in TLT.