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  • RES 4: 127.69 High Sep 3
  • RES 3: 127.36 High Sep 7
  • RES 2: 127.00 Round number resistance
  • RES 1: 125.25 Intraday high
  • PRICE: 126.01 @ 09:45 GMT Nov 26
  • SUP 1: 124.94/17 High Nov 25 and gap low / Low Nov 24
  • SUP 2: 123.71 1.236 proj of the Nov 9 - 17 - 22 price swing
  • SUP 3: 123.23 1.50 proj of the Nov 9 - 17 - 22 price swing
  • SUP 4: 122.75 1.764 proj of the Nov 9 - 17 - 22 price swing

Gilt futures have rallied today and the contract gapped higher at the open. This price action negates recent bearish concerns and with resistance at 125.96, Nov 22 high breached, the key short -term hurdle at 126.23 has been exposed. This level has been probed and a clear break would strengthen the near-term outlook for bulls and open the 127.00 handle. On the downside, key short-term support has been defined at 124.17, Nov 24 low.