ETFs that bet against Treasury bonds have gotten a boost lately from higher yields. [ETF Spotlight]
The iShares Barclays 20+ Year Treasury Bond Fund has recently met resistance at its 50% retracement level and plunged 3.8% in the last six sessions, according to a technical analysis of the ETF prepared by Street One Financial.
“Even though it was in a general uptrend since February 2011, in the longer term it has been declining since September of 2010,” said David Chojnacki, market technician at Street One Financial. “If we look at the three year picture, we can see that it began its downward trend in December of 2008.”
iShares Barclays 20+ Year Treasury Bond Fund
Chart source: StockCharts.com.
