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GILT TECHS: (H5) Bull Cycle Extends

GILT TECHS
Fixed Income Technical AnalysisCEEMEABulletUKMarketsFixed Income Bullets
  • RES 4: 94.50 High Dec 16 
  • RES 3: 94.00 Round number resistance   
  • RES 2: 93.64 61.8% retracement of the Dec 3 - Jan 13 bear leg
  • RES 1: 93.54 High Feb 3                 
  • PRICE: 93.19@ Close Feb 3
  • SUP 1: 92.11/91.52 20-day EMA / Low Jan 24                                
  • SUP 2: 91.10 Low Jan 20
  • SUP 3: 89.68/88.96 Low Jan 15 / 13 and the bear trigger
  • SUP 4: 88.87 2.764 proj of the Dec 20 -27 - Jan 2 price swing

Recent gains in Gilt futures continue to highlight a corrective phase and signal scope for a continuation higher near-term. Last week’s high print and Monday’s climb, reinforce current conditions. The contract has traded through 93.09, the Dec 20 high. Sights are on 93.64, a Fibonacci retracement. The bear trigger has been defined at 88.96, the Jan 13 low. Initial firm support lies at 91.52, the Jan 24 low.  First support 92.11, the 20-day EMA.

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  • RES 4: 94.50 High Dec 16 
  • RES 3: 94.00 Round number resistance   
  • RES 2: 93.64 61.8% retracement of the Dec 3 - Jan 13 bear leg
  • RES 1: 93.54 High Feb 3                 
  • PRICE: 93.19@ Close Feb 3
  • SUP 1: 92.11/91.52 20-day EMA / Low Jan 24                                
  • SUP 2: 91.10 Low Jan 20
  • SUP 3: 89.68/88.96 Low Jan 15 / 13 and the bear trigger
  • SUP 4: 88.87 2.764 proj of the Dec 20 -27 - Jan 2 price swing

Recent gains in Gilt futures continue to highlight a corrective phase and signal scope for a continuation higher near-term. Last week’s high print and Monday’s climb, reinforce current conditions. The contract has traded through 93.09, the Dec 20 high. Sights are on 93.64, a Fibonacci retracement. The bear trigger has been defined at 88.96, the Jan 13 low. Initial firm support lies at 91.52, the Jan 24 low.  First support 92.11, the 20-day EMA.