The iShares 20+ Yr T-Bond ETF (TLT) continues to trade in a high-level coil-type pattern that is putting increasing upward pressure on the 100.00 resistance plateau amidst deteriorating economic data, an uncertain business environment, and defensive equity markets.

Both the May-June price pattern and the underlying fundamentals argue for a climb to and above 100.00 in the upcoming days, which if sustained will trigger projected targets in the 107-100 target zone thereafter.

At this juncture only a decline that breaks 96.00 will neutralize the current bullish technical set-up.

 

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com.