Shares of ISHARES Barclays 20+ Year Treas (NYSE: TLT) have reached their declining-trend resistance line, which should result in a reversal.
On Wednesday, TLT reached the resistance line created by drawing a line on a daily bar chart connecting the July 25 high with the August 31 high, then continuing to the right of the chart.
You can also draw a declining-support line by connecting the August 16 low and September 14's low, then continuing to the right.
Lower-Lows Ahead
The two declining lines create a declining channel for TLT that should result in lower lows in coming weeks.
A decisive close above TLT 125 would break the channel on the upside then likely continue higher. Barring that, though, TLT is in a declining channel and should now move lower.
Disclaimer:
The Fibtimer.com ETF Timing Strategy does not currently hold a position in TLT.