Downtrend in Treasuries

Treasuries have been getting hammered since the Fed commenced QE2 last fall. However, long bonds have been catching a bid over the past week as people reduce equity risk (at least temporarily).

From a technical standpoint, price of Barclay's 20+ Year Treasury ETF (TLT) appears to have cleared the multi-month downtrend (as well as the 50 day moving average). Should prices continue higher, it appears that near term resistance resides a couple of points above--in the 94-95 range.

position in TLT