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(H3) Corrective Pullback

GILT TECHS
  • RES 4: 107.06 High Nov 24 and key resistance
  • RES 3: 106.23 High Dec 9
  • RES 2: 106.18 High Dec 12
  • RES 1: 106.00 Round number resistance
  • PRICE: 104.74 @ Close Jan 26
  • SUP 1: 103.79 Low Jan 23 and key short-term support
  • SUP 2: 103.21/102.78 Low Jan 17 / High Jan 6
  • SUP 3: 102.19/101.40 Low Jan 11 / 10
  • SUP 4: 99.97 Low Jan 3

Gilt futures remain in an uptrend and the latest pullback is considered corrective. Recent trend highs confirm a resumption of the short-term uptrend. The move signals potential for a climb towards 107.06, the Nov 24 high and a key resistance. The first objective is the 106.00 handle. On the downside, initial firm support has been defined at 103.79, the Jan 17 low. A break would threaten the recent recovery.

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