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(H1) Hurtles Through 135.00

GILT TECHS
  • RES 4: 136.13 1.500 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 3: 135.96 76.4% retracement of the Nov 5 - 11 sell-off (cont)
  • RES 2: 135.67 1.236 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 1: 135.57 High Dec 10
  • PRICE: 135.42 @ Close Dec 10
  • SUP 1: 135.01 Low Dec 10
  • SUP 2: 134.35 20-day EMA
  • SUP 3: 134.07 Low Dec 7
  • SUP 4: 133.63 Low Dec 4

Gilt futures bullish conditions strengthened yesterday. The contract gapped higher at the open and bulls did not look back. Thursday's rally confirms an extension of the uptrend that started mid-Nov. Furthermore, this week's breach of 134.70, Nov 30 high also confirmed a bullish price sequence of higher highs and higher lows. Attention is on 135.67 next, 1.236 projection of the Nov 11 - 30 rally from the Dec 2 low. Initial support is at 135.01.

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