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GILT TECHS: (H5) Bull Cycle Extends

GILT TECHS
Fixed Income Technical AnalysisCEEMEABulletUKMarketsFixed Income Bullets
  • RES 4: 95.11 High Dec 12 
  • RES 3: 94.75 76.4% retracement of the Dec 3 - Jan 13 bear leg   
  • RES 2: 94.00 Round number resistance
  • RES 1: 93.85 High Feb 5                 
  • PRICE: 93.73 @ Close Feb 5
  • SUP 1: 92.32/91.52 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

A bullish phase in Gilt futures remains in play, signalling scope for a continuation higher near-term. This week’s extension reinforces current conditions. The contract has traded through 93.09, the Dec 20 high, and breached 93.64, the 61.8% retracement of the Dec 3 - Jan 13 bear leg. Sights are on the 94.00 handle next. Initial firm support lies at 92.32, the 20-day EMA.

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  • RES 4: 95.11 High Dec 12 
  • RES 3: 94.75 76.4% retracement of the Dec 3 - Jan 13 bear leg   
  • RES 2: 94.00 Round number resistance
  • RES 1: 93.85 High Feb 5                 
  • PRICE: 93.73 @ Close Feb 5
  • SUP 1: 92.32/91.52 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

A bullish phase in Gilt futures remains in play, signalling scope for a continuation higher near-term. This week’s extension reinforces current conditions. The contract has traded through 93.09, the Dec 20 high, and breached 93.64, the 61.8% retracement of the Dec 3 - Jan 13 bear leg. Sights are on the 94.00 handle next. Initial firm support lies at 92.32, the 20-day EMA.