Free Trial

(H2) Eyeing Further Short-Term Gains

GILT TECHS
  • RES 4: 123.71 High Jan 24
  • RES 3: 122.69 50-day EMA
  • RES 2: 122.40 High Feb 3
  • RES 1: 121.71 High Feb 18
  • PRICE: 121.46 @ Close Feb 18
  • SUP 1: 119.32 Low Feb 16 and the bear trigger
  • SUP 2: 119.28 2.382 proj of the Jan 13 - 19 - 24 price swing
  • SUP 3: 119.17 1.0% 10-dma envelope
  • SUP 4: 119.06 2.500 proj of the Jan 13 - 19 - 24 price swing

The medium-term trend condition in Gilt futures remains down, but this market is currently still in a corrective rally. Price has traded above the 20-day EMA and this suggests potential for a climb towards the 122.00 handle and the 50-day EMA at 122.69. The EMA represents a key resistance point. A failure to hold onto highs and a reversal lower would refocus attention on 119.32, Feb 16 low and the bear trigger.

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.