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(H1) Extends Gains

GILT TECHS
  • RES 4: 135.00 Round number resistance
  • RES 3: 134.91 1.236 proj of the Nov 16 - 23 rally from Nov 25 low
  • RES 2: 134.70 1.00 proj of the Nov 16 - 23 rally from Nov 25 low
  • RES 1: 134.56 High Nov 27
  • PRICE: 134.53 @ Close Nov 26
  • SUP 1: 133.81 Low Nov 25
  • SUP 2: 133.76 Low Nov 17
  • SUP 3: 133.57 1.618 proj of Oct 16-23 sell-off from Nov 5 high (cont)
  • SUP 4: 133.55 61.8% retracement of the Mar - May rally (cont)

Gilt futures traded sharply higher yesterday extending the recent recovery and breaching former resistance at 134.33, Nov 23 high. The break higher paves the way for further strength and has opened 134.70 next, a Fibonacci projection based on the recent Nov 16 / 23 / 25 price swing. Support has been defined at 133.81, Nov 25 low. A break below this level is required to dent the current positive tone.

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