September 18, 2024 05:36 GMT
GILT TECHS: (Z4) Trend Direction Remains Up
GILT TECHS
- RES 4: 102.37 1.236 proj of the Sep 2 - 6 - 9 price swing
- RES 3: 102.00 Round number resistance
- RES 2: 101.78 1.00 proj of the Sep 2 - 6 - 9 price swing
- RES 1: 101.54 High Sep 17
- PRICE: 101.04 @ Close Sep 17
- SUP 1: 100.64 High Sep 10 and a gap low on the daily chart
- SUP 2: 99.83 Low Sep 10
- SUP 3: 99.91 20-day EMA
- SUP 4: 99.29 Low Sep 9
Gilt futures are in consolidation mode and holding on to their recent gains. A bull cycle is still in play. The latest round of gains have resulted in a break of 100.30, the Aug 14 high. This resumes the uptrend and maintains the price sequence of higher highs and higher lows. 101.78 marks the next objective, a Fibonacci projection. Firm short-term support has been defined 99.29, the Sep 9 low. Initial support is 100.64, the Sep 10 high.
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