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(H3) Trades Above Recent Highs

GILT TECHS
  • RES 4: 108.00 Round number resistance
  • RES 3: 107.06 High Nov 24 and key resistance
  • RES 2: 106.95 High Dec 2
  • RES 1: 106.41 Intraday high
  • PRICE: 106.12 @ 1219 GMT Feb 2
  • SUP 1: 105.09 Intraday low
  • SUP 2: 104.04 Low Jan 30 and key near-term support
  • SUP 3: 103.79 Low Jan 23
  • SUP 4: 103.21/102.78 Low Jan 17 / High Jan 6

Gilt futures have traded higher and in the process have pierced resistance at the 106.00 handle. This reinforces a bullish theme and maintains the positive price sequence of higher highs and higher lows. Sights are on 107.06, the Nov 24 high and the next key resistance. Key short-term support has been defined at 104.04, the Jan 30 low. A break of this level is required to signal a possible short-term top.

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