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(H2) Extends Gains

GILT TECHS
  • RES 4: 128.00 High Aug 31
  • RES 3: 127.69 High Sep 3
  • RES 2: 127.36 High Sep 7
  • RES 1: 127.19 High Dec 3
  • PRICE: 126.87 @ Close GMT Dec 3
  • SUP 1: 125.44 Low Nov 26 and gap high
  • SUP 2: 124.94 High Nov 25 and gap low
  • SUP 3: 124.48 Low Nov 25
  • SUP 4: 124.17 Low Nov 24 and key support

Gilt futures maintain a bullish tone and the contract traded higher again on Friday. Continued gains reinforce a positive theme and maintain a bullish price sequence of higher highs and higher lows. The 127.00 objective has been achieved and the focus turns to 127.36, the Sep 7 high and the 128.00 handle further out. On the downside, key short-term support has been defined at 124.17, Nov 24 low. Initial firm support is at 125.44.

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