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GILT TECHS: (U4) Reverses Recent Gains

GILT TECHS
  • RES 4: 100.00 Psychological round number  
  • RES 3: 99.62 1.382 proj of the May 29 - Jun 4 - 10 price swing
  • RES 2: 99.23 High Jun 21 and a key resistance 
  • RES 1: 98.93 High Jul 16 
  • PRICE: 97.94 @ Close Jul 22 
  • SUP 1: 97.63/96.57 Low Jul 11 / 1 and a key support      
  • SUP 2: 96.25 76.4% retracement of the May 29 - Jun 21 bull run      
  • SUP 3: 96.12 Low Jun 10 
  • SUP 4: 95.33 Low May 29 and a key support   

Gilt futures faded into the Monday close, finishing the sessions close to the lows. As a result, price has slipped back below former resistance at 98.24, the Jun 28 high, and may suggest further slippage toward 97.63. A further reversal would refocus attention on 96.57, the Jul 1 low and a key short-term support. Any bounce this week would need to top key short-term resistance at 99.23, the Jun 21 high.

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