Free Trial

(H18) Recovering On The Back Of Near.....>

GILT TECHS
GILT TECHS: (H18) Recovering On The Back Of Near Term Oversold Conditions
*RES 4: 124.95/96 Jan 8, Jan 3 highs
*RES 3: 124.50 Jan 11 high
*RES 2: 124.20/30 Hourly congestion Jan 10-11
*RES 1: 124.05/11 Jan 2, Dec 21 lows, now resistance
*PRICE: 123.87 @0846GMT 
*SUP 1: 123.43/53 Hourly support
*SUP 2: 123.26 Jan 12 low
*SUP 3: 123.02/12 1% volatility band, Nov 30 low
*SUP 4: 122.73 1.618x 125.42-124.05 from 124.95
*COMMENTARY* The decline continued Friday, breaking below the 76.4% Fibo retrace
level at 123.73 and the Dec 8 low and swing target at 123.62. Found some support
from 123.26, above what looks more important support from 123.12-123.02. This
the Nov 30 low and the lower 1% volatility band by time today. Has become
oversold in the near term, the move back above 123.75-123.87 helping but the Jan
2 low at 124.05 and the Dec 21 low at 124.11 a more formidable barrier higher.

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.