Free Trial

(H18) Correcting Lower After.............>

GILT TECHS
GILT TECHS: (H18) Correcting Lower After 125.69-125.71 Caps
*RES 4: 126.06/09 Swing 124.94-123.12, 76.4% 127.22-122.44 
*RES 3: 125.94 Equality from 124.49 to 123.62-125.08
*RES 2: 125.69/71 Dec 15 high, 1.618 swing of 124.91-123.62
*RES 1: 125.40/50 Hourly resistance
*PRICE: 124.90 @1715GMT 
*SUP 1: 124.90/95 Hourly support
*SUP 2: 124.71/72 38.2% Fibo of 123.12-125.69, Dec 14 low
*SUP 3: 124.49 Dec 13 low
*SUP 4: 124.41 50% Fibo of 123.12-125.69
*COMMENTARY* A high of 125.69 on Friday, above the 76.4% Fibo retrace level at
125.62 but shy of the swing target at 125.71. Has subsequently met some
overbought conditions, so look for some pullback, initially of gains from the
Dec 14 low at 124.72. This sees 124.95-124.90 as key near term support. Have to
stay above the latter to retain recent momentum. Meanwhile, 125.40-125.50 now
provides resistance to any recovery efforts.

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.