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(H2) Fresh December Lows

GILT TECHS
  • RES 4: 127.94/128.00 61.8% of Aug - Oct move (cont) / High Aug 31
  • RES 3: 127.47/67 High Dec 20 / High Dec 8
  • RES 2: 126.76 High Dec 21
  • RES 1: 125.93 High Dec 22
  • PRICE: 124.50 @ Close Dec 29
  • SUP 1: 124.35 Low Dec 29
  • SUP 2: 124.17 Low Nov 24 and a key support
  • SUP 3: 123.77 3.0% Lower Bollinger Band
  • SUP 4: 123.66 Low Nov 01

On the resumption of trade, Gilt futures returned lower, printing new December lows at 124.35 as global bond markets sold off. This puts prices through nearby support layered between 124.48-94 and turns focus to 124.17 - the Nov24 low and key support level. Firm resistance is at 126.76, the Dec 21 high. Initial resistance is at 125.93, the Dec 22 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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