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GILT TECHS: (M3) Pierces The 100.00 Handle

GILT TECHS
  • RES 4: 103.00 Round number resistance
  • RES 3: 102.20 High Feb 20
  • RES 2: 101.92 High Feb 24
  • RES 1: 100.98 High Feb 27
  • PRICE: 100.06 @ Close Feb 27
  • SUP 1: 99.78 Low Feb 27
  • SUP 2: 99.46 1.236 projection of the Feb 20 - 23 - 24 price swing
  • SUP 3: 99.17 1.382 projection of the Feb 20 - 23 - 24 price swing
  • SUP 4: 98.94 1.50 projection of the Feb 20 - 23 - 24 price swing

Gilt futures traded lower Monday and in the process breached last week’s 100.20 low (Feb 24). The move down confirms a resumption of the current bearish cycle and not that the 100.00 handle has been [pierced. A continuation lower would open 99.46, the 1.236 projection of the recent Feb 20 - 23 - 24 price swing. On the upside, initial resistance is seen at Monday’s 100.98 intraday high.

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