Free Trial

(H18) Key 123.03 Support Survives An.....>

GILT TECHS
GILT TECHS: (H18) Key 123.03 Support Survives An Early Testing
*RES 4: 124.27/30 Hourly congestion area Nov 27-28
*RES 3: 124.18/19 Nov 24, 27 lows, now resistance
*RES 2: 123.89 Nov 28 low, Nov 29 high
*RES 1: 123.69/71 Hourly resistance
*PRICE: 123.61 @1635GMT 
*SUP 1: 123.29 Hourly support
*SUP 2: 123.12/15 Intraday, Nov 1 lows 
*SUP 3: 123.03 76.4% of 122.44-124.94
*SUP 4: 122.63 1.618 swing of 123.38-124.60
*COMMENTARY* The month's earlier 'Gravestone Doji' close on Nov 8 was initially
responsible for a 124.94-123.38 fall, keeping us ahead of key 123.03 Fibo
support. The subsequent recovery helped to ease some oversold conditions but the
124.57-124.60 area proved too tough to break at this stage. Meanwhile, support
from 123.61 and that prior 123.38 low have since been lost, leaving
123.15-123.03 vulnerable to test again. Resistance falls to 123.69-123.89.

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.