Free Trial

(H18) Bears Focused On 118.93 *RES 4:....>

GILT TECHS
GILT TECHS: (H18) Bears Focused On 118.93
*RES 4: 122.28 Low Jan 29 now resistance 
*RES 3: 122.03 Hourly resistance Feb 6 
*RES 2: 121.79 Hourly resistance Feb 7 
*RES 1: 121.37 Hourly support Feb 8 now resistance
*PREVIOUS CLOSE: 121.16
*SUP 1: 120.71 Hourly support Feb 8 
*SUP 2: 120.48 2018 Low Feb 8 
*SUP 3: 119.73 Weekly Bear channel base 
*SUP 4: 118.93 Monthly Low Apr 4 2016
*COMMENTARY: The topside failure ahead of 122.28 resulted in fresh 2018 & nearly
2 year lows Thursday although follow through has been lacking with the Bollinger
base (120.82) and O/S studies key concerns for bears. Bulls now look for a close
above 121.37 to ease immediate bearish pressure and above the 21-DMA to confirm
a shift in initial focus to 123.12-124.20 where 55 & 100-DMAs are noted.

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.