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GILT TECHS: (H5) Impulsive Bear Wave Remains Intact

GILT TECHS
Fixed Income Technical AnalysisCEEMEABulletUKMarketsFixed Income Bullets
  • RES 4: 94.47 20-day EMA  
  • RES 3: 93.64 High Dec 17  
  • RES 2: 93.38 High Dec 18 
  • RES 1: 92.84 High Dec 19              
  • PRICE: 92.42 @ Close Dec 19
  • SUP 1: 91.87 Low Dec 19                        
  • SUP 2: 91.73 4.236 proj of the Dec 3 - 4 - 5 minor price swing
  • SUP 3: 91.58 4.382 proj of the Dec 3 - 4 - 5 minor price swing
  • SUP 4: 91.45 4.500 proj of the Dec 3 - 4 - 5 minor price swing

A strong bearish theme in Gilt futures remains in play and this week’s extension reinforces current conditions. The move down has resulted in a breach of key short-term support at 93.40, the Nov 18 low. The break of this level highlights a stronger reversal. Sights are on 91.73, a 4.236 projection of the Dec 3 - 4 - 5 minor price swing. Initial resistance is at 92.84, the Dec 19 low and a gap high on the daily chart.

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  • RES 4: 94.47 20-day EMA  
  • RES 3: 93.64 High Dec 17  
  • RES 2: 93.38 High Dec 18 
  • RES 1: 92.84 High Dec 19              
  • PRICE: 92.42 @ Close Dec 19
  • SUP 1: 91.87 Low Dec 19                        
  • SUP 2: 91.73 4.236 proj of the Dec 3 - 4 - 5 minor price swing
  • SUP 3: 91.58 4.382 proj of the Dec 3 - 4 - 5 minor price swing
  • SUP 4: 91.45 4.500 proj of the Dec 3 - 4 - 5 minor price swing

A strong bearish theme in Gilt futures remains in play and this week’s extension reinforces current conditions. The move down has resulted in a breach of key short-term support at 93.40, the Nov 18 low. The break of this level highlights a stronger reversal. Sights are on 91.73, a 4.236 projection of the Dec 3 - 4 - 5 minor price swing. Initial resistance is at 92.84, the Dec 19 low and a gap high on the daily chart.