Free Trial

(H18) 124.94-125.21 Resistance Region....>

GILT TECHS
GILT TECHS: (H18) 124.94-125.21 Resistance Region Key
*RES 4: 125.21 High Sept 15 
*RES 3: 124.94 High Nov 8 
*RES 2: 124.85 Bollinger band top, High Dec 1 
*RES 1: 124.49 Hourly support Dec 1 now resistance
*PREVIOUS CLOSE: 124.30
*SUP 1: 124.17 Hourly support Dec 5 
*SUP 2: 123.77 Hourly support Dec 1 
*SUP 3: 123.64 High Nov 30 now support 
*SUP 4: 123.57 55-DMA
*COMMENTARY: Having bounced from last week's fresh monthly lows sees the
contract continue to trade sideways confined to a 123.12-124.94 range. The
failure to capitalise on Friday's rally sees the contract settling back into the
broad range. Bears now need a close below 124.17 to gain breathing room and
below 123.64 to shift focus back to tests of 123.12. Bulls look for a close
above 125.21 to confirm initial focus on 125.99.

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.