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This T-Bill ETF Could Be Bottoming

Published 07/14/2016, 03:22 PM
Updated 07/09/2023, 06:31 AM
TBT
2.57%

The ProShares UltraShort 20+ Year Treasury (NYSE:TBT) popped Thursday from Wednesday's pullback low at 30.22 to Thursday morning's high at 31.28, which we see as a new recovery high within a potentially larger-developing bottoming formation.

The next immediate target is in the vicinity of 32, which if hurdled and sustained, will point TBT to 32.80-33.

At this point, only a sudden downside reversal and decline that breaks 30.20/00 will compromise the developing constructive setup.

ProShares UltraShort 20+ Year Treasury

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Latest comments

Alexander BjerkvikJul 15, 2016, 07:23
Leveraged ETP´s are not really suited for technical analysis.
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