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(H2) Bears Still In Charge

GILT TECHS
  • RES 4: 125.18 High Dec 31
  • RES 3: 124.59 20-day EMA
  • RES 2: 124.17 Low Nov 24 and recent breakout level
  • RES 1: 123.73 Low Jan 5 and gap high
  • PRICE: 123.08 @ Close Jan 11
  • SUP 1: 122.78 Low Jan 10
  • SUP 2: 122.66 3.618 proj of the Dec 8 - 16 - 20 price swing
  • SUP 3: 122.46 3.764 proj of the Dec 8 - 16 - 20 price swing
  • SUP 4: 121.45 3.0% Lower Bollinger Band

The Gilt futures downtrend remains intact. Last week’s sell-off resulted in a break of support at 124.35, Dec 29 low and 124.17, Nov 24 low. The move below the latter support has strengthened bearish conditions signalling scope for further downside. Moving average conditions are also in a bear mode, reinforcing current conditions. The focus is on the 122.66 next, a Fibonacci projection. Initial resistance is seen at 123.73.

Fixed Income Technical AnalysisHomepageBond Market Newsmarkets-real-timeBulletMarketsFixed Income Bullets
Fixed Income Technical AnalysisHomepageBond Market Newsmarkets-real-timeBulletMarketsFixed Income Bullets

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