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(H1) Volatile But Remains Bullish

GILT TECHS
  • RES 4: 135.39 76.4% retracement of the Jan 4 - 12 downleg
  • RES 3: 135.16 High Jan 6
  • RES 2: 135.04 61.8% retracement of the Jan 4 - 12 downleg
  • RES 1: 134.95 High Jan 27/28
  • PRICE: 134.56 @ Close Jan 28
  • SUP 1: 134.33 Low Jan 28
  • SUP 2: 134.14 Low Jan 25
  • SUP 3: 133.79 Low Jan 21
  • SUP 4: 133.55 Low Jan 11 and the bear trigger

Gilt futures have been volatile. This week's gains highlight a bullish theme. Futures have cleared resistance defined by the 20- and 50-day EMAs reinforcing a bullish argument. Scope is seen for a climb towards 135.04 next, the 61.8% retracement of the Jan 4 - 12 downleg. A break would open 135.16, Jan 6 high. Initial support is seen at yesterday's low of 134.33 ahead of 134.14, the Jan 25 low.

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