Free Trial

(H4) Remains Vulnerable

GILT TECHS
  • RES 4: 101.98 High Jan 3
  • RES 3: 100.81 High Jan 5
  • RES 2: 99.98 20-day EMA
  • RES 1: 99.71 Low Jan 16 and gap high on the daily chart
  • PRICE: 99.20 @ Close Jan 23
  • SUP 1: 98.00 Low Jan 17
  • SUP 2: 97.39 Low Dec 11 and a key support
  • SUP 3: 96.67 Low Dec 5
  • SUP 4: 96.10 Low Nov 30

Gilt futures remain vulnerable. The contract last week cleared support at 99.60, the Jan 5 low. This reinforced a bearish theme and confirmed a resumption of the downtrend that started Dec 27. The contract has also traded through support at 97.97, Dec 6 high, signalling scope for an extension towards 97.39, the Dec 11 low. Firm resistance to watch is 99.98, the 20-day EMA. A clear break of the average would ease bearish pressure.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.