Free Trial

(H2) Recovers From Yesterday’s Low

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: 127.33/67 High Dec 16 / High Dec 8
  • PRICE: 127.05 @ Close Dec 16
  • SUP 1: 126.34 Low Dec 16
  • 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 traded sharply lower yesterday, down to 126.34 before some support arrived to push price higher. The move lower resulted in a print below the 20-day EMA at 126.56. A clear break of this EMA would signal potential for a deeper sell-off below the 126.00 handle. On the upside the recent high of 127.67 on Dec 8 marks the bull trigger. Clearance of it would confirm a resumption of the uptrend.

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.