Free Trial

(H18)121.87 Break Allows Some............>

GILT TECHS
GILT TECHS: (H18)121.87 Break Allows Some Corrective Recovery Potential
*RES 4: 122.74 38.2% Fibo of 125.69-120.92
*RES 3: 122.61/65 Jan 25 low, Jan 30 high
*RES 2: 122.28 Jan 29 low, now resistance
*RES 1: 122.05 23.6% Fibo of 125.69-120.92
*PRICE: 121.95 @0935GMT 
*SUP 1: 121.46 Initial recovery high Feb 2, now support
*SUP 2: 121.19 Feb 5 low
*SUP 3: 120.92/95 Feb 2 low, 1% volatility band
*SUP 4: 120.73 5 month bear channel base projection
*COMMENTARY* Has found some support over the last couple of days from around the
lower 1% volatility band. This coupled with the heavily oversold conditions,
given the fall from the Dec 15 peak at 125.69. The move back above 121.65-121.87
has provided a corrective opportunity, 122.05 the next bar to a higher
122.28-122.74 rise. In the meantime, support also on the rise, 121.46 initially,
121.19 of more consequence below.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.