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(H1) Bears In Control

GILT TECHS
  • RES 4: 133.55 Low Dec 1 and a recent breakout level
  • RES 3: 132.67 High Feb 11
  • RES 2: 131.73 Low Feb 8/12 and gap high on the daily chart
  • RES 1: 131.49 High Feb 16 and gap low on the daily chart
  • PRICE: 129.12 @ Close Feb 25
  • SUP 1: 128.63 Low Feb 25
  • SUP 2: 127.99 Low Mar 19, 2020 (cont)
  • SUP 3: 127.26 2.0% 10-dma envelope
  • SUP 4: 126.61 3.0% Lower Bollinger Band

Bears remain solidly in control Thursday, with the technical outlook deteriorating further. A combination of contract rolls and bullish GBP prices sent prices to new 2021 lows of 128.63. Further weakness is likely with a bearish cycle continuing to dominate. The focus is on a clean break of the 130.00 psychological level, opening the Mar 19 2020 low of 127.99.

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