Free Trial

(H18) Bears Need Close Below 123.62......>

GILT TECHS
GILT TECHS: (H18) Bears Need Close Below 123.62
*RES 4: 125.21 High Sept 15 
*RES 3: 124.94 High Nov 8 
*RES 2: 124.82 Bollinger band top 
*RES 1: 124.61 Hourly resistance Dec 7
*PREVIOUS CLOSE: 124.15
*SUP 1: 123.65 55-DMA 
*SUP 2: 123.62 Low Dec 8 
*SUP 3: 123.31 Daily Bull channel base
*SUP 4: 123.12 Monthly Low Nov 30
*COMMENTARY: Having bounced from Nov monthly lows sees the contract trade
sideways 123.12-124.94. The topside failure ahead of 124.94 Wednesday has been
followed up with a dip below the 55-DMA. Bears now a close below 123.62 to
confirm a break of the 55-DMA and pressure 123.12-31 where the bull channel base
is noted. Bulls need a close above 125.21 to reconfirm a bullish bias with focus
shifting to 125.52-99 where the daily bull channel top is 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.