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(H3) Bullish Outlook

GILT TECHS
  • RES 4: 107.06 High Nov 24 and key resistance
  • RES 3: 106.18 High Dec 12
  • RES 2: 106.00 Round number resistance
  • RES 1: 105.71 High Jan 18
  • PRICE: 104.98 @ Close Jan 18
  • SUP 1: 103.21/102.78 Low Jan 17 / High Jan 6
  • SUP 2: 102.19/101.40 Low Jan 11 / 10
  • SUP 3: 99.97 Low Jan 3
  • SUP 4: 99.18 Low Dec 28 and the bear trigger

Gilt futures remain in an uptrend and the contract traded higher Wednesday. This confirms a resumption of the short-term uptrend and has resulted in a break of 105.20, the 76.4% retracement of the Nov 24 - Dec 28 bear leg. The break higher paves the way for gains towards 107.06, the Nov 24 high and a key resistance. On the downside, initial firm support has been defined at 103.21, the Jan 17 low.

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