Free Trial

(H3) Approaching Key Short-Term Support

GILT TECHS
  • RES 4: 109.47 High Aug 31 (cont)
  • RES 3: 108.00 Round number resistance
  • RES 2: 107.06 High Nov 24 and the bull trigger
  • RES 1: 105.51/106.95 High Dec 13 / 2
  • PRICE: 103.98 @ Close Dec 14
  • SUP 1: 103.85 Low Dec 14
  • SUP 2: 103.54 Low Nov 21 and key near-term support
  • SUP 3: 103.00 Round number support
  • SUP 4: 102.77 Low Nov 10 (cont)

Gilt futures traded lower again Wednesday, extending the pullback from last week’s highs. The break of support at 104.79, Nov 30 low, exposes the firmer support at 103.54, the Nov 21 low. Clearance of this level would strengthen a bearish threat and signal scope for a deeper pullback. This would open 103.00. On the upside, the bull trigger is unchanged at 107.06, the Nov 24 high. A break would resume 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.