Free Trial

(H0) Underlying Outlook Remains..........>

GILT TECHS: (H0) Underlying Outlook Remains Bearish
*RES 4: 133.59 High Nov 26 and key resistance
*RES 3: 133.35 High Dec 2
*RES 2: 132.42 High Dec 12 and intraday key resistance
*RES 1: 132.27 High Dec 18
*PRICE: 131.74 @ Close Dec 18
*SUP 1: 131.13 Low Dec 16
*SUP 2: 130.45 Low Dec 13
*SUP 3: 130.39 1.764 projection of Nov 26 - Dec 3 decline from Dec 4 high
*SUP 4: 129.60 2.236 projection of Nov 26 - Dec 3 decline from Dec 4 high
H0 Gilt outlook remains unchanged. Whether the rally on Dec 13 is the start of a
bullish theme is still too early to tell. The initial sell-off on Dec 13 saw
price register a fresh low of 130.45 confirming a resumption of the downtrend
that has been in place since September. With bearish conditions holding, scope
is seen for weakness towards 130.39 and the psychological 130.00 level next.
Clearance of 132.42, Dec 12 high is required to alter the picture.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.