Yields on benchmark 10-year Treasury bonds are now back down to 1.9%. Treasuries have experienced one of their best starts to a new year since the financial crisis as global growth concerns, falling oil prices and an earnings recession spurred a selloff in riskier assets and increased demand for safe-haven assets. [ETF Investors Flock to Safe-Haven Assets]

TLT recently “made a lower high recently that coincided with the higher (and possibly terminal) high in bond futures. Looking forward, we would expect TLT to attempt a small upward retracement to approach one of the areas defined by the resistance at 130.28 and 132.19. After that, our forecast suggests that price should decline toward the target zone of 120.26 to 123.50 later in 2016,” adds See It Market.

iShares 20+ Year Treasury Bond ETF

Tom Lydon’s clients own shares of TLT.