Free Trial

(H2) Fresh Trend Lows

  • RES 4: 124.17 Low Nov 24
  • RES 3: 124.05 50-day EMA
  • RES 2: 123.71 High Jan 24 and a key near-term resistance
  • RES 1: 122.56/123.07 High Feb 2 / 20-day EMA
  • PRICE: 121.64 @ 12:59 Feb 3
  • SUP 1: 121.25 Intraday low
  • SUP 2: 121.12 Low Nov 8 2018 (cont)
  • SUP 3: 120.51 Low Oct 16, 2018 (cont)
  • SUP 4: 120.00 Psychological round number

Gilt futures traded sharply lower today following the BOE announcement. The break lower reinforces bearish conditions and maintains the bearish price sequence of lower lows and lower highs. Monday’s break of former support at 121.93, Jan 19 low confirmed a resumption of the downtrend. The focus is on a move to 121.12 next, the Nov 8, 2018 low on the continuation chart. Resistance is seen at 122.56, Feb 2 high.

To read the full story



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.