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(H1) Off Recent Lows

GILT TECHS
  • RES 4: 135.99 High Dec 14 and the bull trigger
  • RES 3: 135.51 High Dec 14
  • RES 2: 135.38 High Dec 15
  • RES 1: 135.08 High Dec 18
  • PRICE: 134.96 @ Close Dec 18
  • SUP 1: 134.36 Low De 17
  • SUP 2: 134.14/10 Low Dec 16 / 76.4% of the Dec 2 - 11 rally
  • SUP 3: 133.63 Low Dec 4
  • SUP 4: 133.52 Low Dec 2 and key support

Gilt futures remain volatile. Last week's sell-off saw a number of retracement levels cleared. However the final retracement at 134.10, 76.4% of the Dec 2 - 11 rally has remained intact and price rebounded off Wednesday low of 134.14. A break of 134.10 is required to strengthen a bearish case and would open 133.52, Dec 2 low. On the upside, clearance of 135.38, Dec 15 high would be bullish and expose 135.99 on Dec 11.

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