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GILT TECHS: (Z4) Monitoring Resistance

GILT TECHS
Fixed Income Technical AnalysisCEEMEABulletUKGlobalFixed Income BulletsRegionMarkets
  • RES 4: 100.30 76.4% retracement of the Sep 17 - 30 bear leg
  • RES 3: 100.30 61.8% retracement of the Sep 17 - 30 bear leg  
  • RES 2: 99.92 50.0% retracement of the Sep 17 - 30 bear leg   
  • RES 1: 99.38/47 20-day EMA / High Oct 1         
  • PRICE: 99.19 @ Close Oct 1
  • SUP 1: 98.30 Low Sep 30            
  • 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

A bear threat in Gilt futures remains present - for now - despite yesterday’s strong gains. The recent move lower has exposed the next key support at 98.11, the Sep 2 low and a bear trigger. A break of this level would strengthen the bearish theme and open 98.00. On the upside, key near-term resistance is seen at 99.38, the 20-day EMA. It has been pierced, however a clear break of this average is required to highlight a possible reversal.

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  • RES 4: 100.30 76.4% retracement of the Sep 17 - 30 bear leg
  • RES 3: 100.30 61.8% retracement of the Sep 17 - 30 bear leg  
  • RES 2: 99.92 50.0% retracement of the Sep 17 - 30 bear leg   
  • RES 1: 99.38/47 20-day EMA / High Oct 1         
  • PRICE: 99.19 @ Close Oct 1
  • SUP 1: 98.30 Low Sep 30            
  • 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

A bear threat in Gilt futures remains present - for now - despite yesterday’s strong gains. The recent move lower has exposed the next key support at 98.11, the Sep 2 low and a bear trigger. A break of this level would strengthen the bearish theme and open 98.00. On the upside, key near-term resistance is seen at 99.38, the 20-day EMA. It has been pierced, however a clear break of this average is required to highlight a possible reversal.