Oct 09

Pattern Constructive in Treasuries (TLT)

I am getting preliminary technical indications that the pullback in the TLTs from the 9/25 high at 90.40 ended at this morning's low of 88.01, which attempted but so far has failed to break the July-Oct support line. My intermediate-term work remains very constructive and continues to point to the 91.50 area as the next upside target zone.

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Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!