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(H3) Outlook Remains Bullish

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 and the bull trigger
  • PRICE: 104.84 @ Close Jan 24
  • SUP 1: 103.54 20-day EMA
  • SUP 2: 103.21/102.78 Low Jan 17 and key S/T support / 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. Recent trend highs have confirmed a resumption of the short-term uptrend and resulted in a break of 105.20, the 76.4% retracement of the Nov 24 - Dec 28 bear leg. This signals potential for a climb 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. A break would threaten the recent recovery.

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