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(H3) Holding On To Its Recent Gains

  • 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: 106.33 High Nov 28
  • PRICE: 105.90 @ Close Nov 29
  • SUP 1: 104.78 Low Nov 23
  • SUP 2: 103.54 Low Nov 21 and key near-term support Low Nov 16
  • SUP 3: 103.00 Round number support
  • SUP 4: 102.77 Low Nov 10 (cont)

Short-term trend conditions in Gilt futures remain bullish and last week’s gains reinforced this condition. Fresh cycle highs maintain the current bullish price sequence of higher highs and higher lows and moving averages appear to be highlighting a bull mode set-up - if confirmed this would reinforce the uptrend. The focus is on a climb towards 109.47 next, the Aug 31 low on the continuation chart. Initial firm support lies at 103.54, the Nov 21 low.

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