A Major Bullish Reversal Pattern Takes Shape in TLT

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

The 20+ YR T-Bond ETF (TLT), which is one of the best performing ETFs this year, is challenging its October high after a 5+ percent advance this year. The double bottom lows are around 101 and resistance is set at 108. A breakout here would target further strength to the 115 area. The indicator window shows the StockCharts Technical Rank (SCTR) moving above 70 and hitting a 52-week high as TLT shows relative strength this year.  

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Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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