The iShares Barclays 20+ Yr Treas.Bond (ETF) TLT 0.46% has broken out to new all-time highs in June. However, the ETF’s chart indicates the run-up may be on a breather for the time being.

After forming a double top at $134 in early 2015 and early 2016, TLT broke through the $134 level with authority earlier this month and surged to new all-time highs.

The ETF climbed as high as $137.56 in Thursday morning trading before pulling back to the mid-$136 range.

The bad news for TLT bulls is that the ETF may be forming a shooting start technical formation on Thursday. A shooting star is a candlestick formation that forms when a stock or ETF advances well above its opening price throughout the trading day only to pull back and close below the opening price. This formation typically marks near-term market tops and reversals.

If the TLT’s current price holds, the ETF will form…

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