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(H2) Bullish Theme Intact

GILT TECHS
  • RES 4: 129.00 76.4% retracement of the Aug - Oct downleg (cont)
  • RES 3: 128.18 High Sep 10 / 14 (cont)
  • RES 2: 127.94/128.00 61.8% of Aug - Oct move (cont) / High Aug 31
  • RES 1: 127.67 High Dec 8
  • PRICE: 127.54 @ Close Dec 13
  • SUP 1: 126.67/32 Low Dec 10 / Low Dec 2
  • SUP 2: 125.44 Low Nov 26 and gap high
  • SUP 3: 124.94 High Nov 25 and gap low
  • SUP 4: 124.48 Low Nov 25

Gilt futures remain in an uptrend . The contract traded higher on Dec 8 and last week’s gains maintain the bullish price sequence of higher highs and higher lows, the definition of an uptrend. Price is approaching the 128.00 objective. Short-term dips would be considered corrective with initial support seen at 126.67, the Dec 10 low. Also watch support at 125.44, the Nov 26 low and a gap high on the daily chart.

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