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(H1) Defying Gravity

GILT TECHS
  • RES 4: 136.59 1.764 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 3: 136.34 1.618 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 2: 136.13 1.500 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 1: 136.00 Round number resistance
  • PRICE: 135.91 @ 11:13 GMT Dec 10
  • SUP 1: 135.45 Intraday low
  • SUP 2: 135.01 Low Dec 10
  • SUP 3: 134.35 20-day EMA
  • SUP 4: 134.07 Low Dec 7

Gilt futures maintain this week's impulsive rally and have traded sharply higher this morning, as the contract continues to defy gravity. This week's rally has also confirmed an extension of the uptrend that started mid-Nov. Furthermore, the breach of 134.70, Nov 30 high highlights a bullish price sequence of higher highs and higher lows. Attention is on 136.00 next ahead of 136.13, a Fibonacci based projection. Initial support is at 135.45.

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