The iShares 20+ Yr T-Bond ETF (NYSE: 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.

By Mike Paulenoff

Mike Paulenoff is author of MPTrader.com (www.mptrader.com), a real-time diary of his technical analysis and trading alerts on ETFs covering metals, energy, equity indices, currencies, Treasuries, and specific industries and international regions.

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