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(H2) Rally Extends

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: 127.69 High Sep 3
  • PRICE: 127.54 @ 11:15 GMT Dec 8
  • SUP 1: 126.68 Low Dec 7
  • 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 are firmer today. The move higher maintains the bullish price sequence of higher highs and higher lows, reinforcing current conditions. The 127.00 objective has recently been cleared and the focus is on the 128.00 handle next, Aug 31 high, On the downside, initial support is seen at 126.68, Dec 7 low while the key near-term level lies at 125.44, the Nov 26 low and a gap high on the daily chart.

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