January 26, 2023 06:09 GMT
(H3) Outlook Remains Bullish
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: 105.17 @ Close Jan 25
- SUP 1: 103.69 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 and the contract pierced resistance yesterday at 105.71, the Jan 18 high. 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 103.21, the Jan 17 low. A break would threaten the recent recovery.
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