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GILT TECHS: (Z4) Trend Direction Remains Down

GILT TECHS
Fixed Income Technical AnalysisCEEMEABulletUKMarketsFixed Income Bullets
  • RES 4: 96.65 High Oct 30     
  • RES 3: 95.83 Low Oct 10  
  • RES 2: 95.00 Round number resistance   
  • RES 1: 94.40/73 20-day EMA / High Nov 1            
  • PRICE: 94.05 @ Close Nov 21
  • SUP 1: 92.97/53 Low Nov 14 / 6 and the bear trigger                 
  • SUP 2: 92.23 2.236 proj of the Sep 17 - 30 - Oct 1 price swing
  • SUP 3: 92.00 Round number support 
  • SUP 4: 91.75 2.3821 proj of the Sep 17 - 30 - Oct 1 price swing

The trend condition in Gilt futures remains bearish and the latest shallow recovery appears to be a correction. Moving average studies are in a bear-mode position, highlighting a dominant downtrend. Scope is seen for an extension towards 92.23, a 2.236 projection of the Sep 17 - 30 - Oct 1 price swing. The Oct 30 high of 96.65, is seen as a key short-term resistance. Initial firm resistance to watch is 94.73, the Nov 1 high.

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  • RES 4: 96.65 High Oct 30     
  • RES 3: 95.83 Low Oct 10  
  • RES 2: 95.00 Round number resistance   
  • RES 1: 94.40/73 20-day EMA / High Nov 1            
  • PRICE: 94.05 @ Close Nov 21
  • SUP 1: 92.97/53 Low Nov 14 / 6 and the bear trigger                 
  • SUP 2: 92.23 2.236 proj of the Sep 17 - 30 - Oct 1 price swing
  • SUP 3: 92.00 Round number support 
  • SUP 4: 91.75 2.3821 proj of the Sep 17 - 30 - Oct 1 price swing

The trend condition in Gilt futures remains bearish and the latest shallow recovery appears to be a correction. Moving average studies are in a bear-mode position, highlighting a dominant downtrend. Scope is seen for an extension towards 92.23, a 2.236 projection of the Sep 17 - 30 - Oct 1 price swing. The Oct 30 high of 96.65, is seen as a key short-term resistance. Initial firm resistance to watch is 94.73, the Nov 1 high.