TIPS – Large Triangle Pattern

By | December 15, 2014

In a CNBC interview this afternoon, Bill Gross suggested TIPS as an investment idea. The weekly chart of the iShares Barclays TIPS Bond Fund (TIPS) shows the 10 week (50 day) moving average crossing above the 40 week (200 day) moving average earlier in the year, and the fund price rising up through the Fibonacci retracement levels measured off the 2013 range. They pulled back at the 62% level in August and have returned to twice test the 38% retracement level. The downtrend line drawn off the highs since August and the 38% reistance-turned-support level have formed a triangle pattern on the weekly chart. A break above pattern resistance projects to the $117.00 area.

43. TIPS charts

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