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GILT TECHS: (Z4) Key Support Remains Exposed

GILT TECHS
Fixed Income Technical AnalysisCEEMEABulletUKGlobalFixed Income BulletsRegionMarkets
  • RES 4: 102.00 Round number resistance
  • RES 3: 101.78 1.00 proj of the Sep 2 - 6 - 9 price swing 
  • RES 2: 101.06/101.54 High Sep 18 / 17 and key resistance  
  • RES 1: 99.50/100.39 20-day EMA / High Sep 19        
  • PRICE: 98.62 @ Close Sep 27
  • SUP 1: 98.31 Low Sep 26           
  • SUP 2: 98.11 Low Sep 2 and a key support  
  • SUP 3: 98.00 Round number support
  • SUP 4: 97.30 1.236 Fibonacci retracement proj of the Sep 2 - 17 rally

The bull cycle in Gilt futures appears to have concluded and a bear threat remains present. With the contract trading closer to its recent lows, sights are on the next key support at 98.11, the Sep 2 low. A break of this level would strengthen the bearish theme and open 98.00. On the upside, key near-term resistance is seen at 99.50, the 20-day EMA. A clear break of this average is required to instead highlight a possible reversal.

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  • RES 4: 102.00 Round number resistance
  • RES 3: 101.78 1.00 proj of the Sep 2 - 6 - 9 price swing 
  • RES 2: 101.06/101.54 High Sep 18 / 17 and key resistance  
  • RES 1: 99.50/100.39 20-day EMA / High Sep 19        
  • PRICE: 98.62 @ Close Sep 27
  • SUP 1: 98.31 Low Sep 26           
  • SUP 2: 98.11 Low Sep 2 and a key support  
  • SUP 3: 98.00 Round number support
  • SUP 4: 97.30 1.236 Fibonacci retracement proj of the Sep 2 - 17 rally

The bull cycle in Gilt futures appears to have concluded and a bear threat remains present. With the contract trading closer to its recent lows, sights are on the next key support at 98.11, the Sep 2 low. A break of this level would strengthen the bearish theme and open 98.00. On the upside, key near-term resistance is seen at 99.50, the 20-day EMA. A clear break of this average is required to instead highlight a possible reversal.