SHY-1 to 3 year Treasury ETF forming H&S top
Treasury yields have been rising over the past two months, with 2-10 treasury yield spread reaching 29 bps on 12/20/2019, highest level since June 2019.
The 1 to 3 year Treasury ETF - SHY broke below the June-November 2019 trendline last week, forming a head-and-shoulder top. Based on the project, the treasury bond ETF prices could target 83.95 area, retracing 50% of the 82.85 (November 2018 low) and 85.12 (August 2019 peak) swing in the next few months.
Happy Trading!
The 1 to 3 year Treasury ETF - SHY broke below the June-November 2019 trendline last week, forming a head-and-shoulder top. Based on the project, the treasury bond ETF prices could target 83.95 area, retracing 50% of the 82.85 (November 2018 low) and 85.12 (August 2019 peak) swing in the next few months.
Happy Trading!