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GILT TECHS: (H5) Trend Structure Remains Bearish

GILT TECHS
Fixed Income Technical AnalysisCEEMEABulletUKMarketsFixed Income Bullets
  • RES 4: 94.50 High Dec 16   
  • RES 3: 93.64 High Dec 17  
  • RES 2: 93.38/45 High Dec 18 / 20-day EMA 
  • RES 1: 92.46/93.09 High Dec 12 / 21              
  • PRICE: 92.12 @ Close Dec 30
  • SUP 1: 91.64 Low Dec 19                        
  • SUP 2: 91.58 4.382 proj of the Dec 3 - 4 - 5 minor price swing
  • SUP 3: 91.45 4.500 proj of the Dec 3 - 4 - 5 minor price swing
  • SUP 4: 91.33 4.618 proj of the Dec 3 - 4 - 5 minor price swing

A strong bearish theme in Gilt futures remains in play and Monday’s gains are considered corrective - for now. The recent breach of 91.87, the Dec 19 low, confirms a resumption of the downtrend. Sights are on 91.58 next, a 4.382 projection of the Dec 3 - 4 - 5 minor price swing. Initial firm resistance is at 93.09, the Dec 20 high. Resistance at the 20-day EMA, is at 93.45, and the average is seen as an important hurdle for bulls.

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  • RES 4: 94.50 High Dec 16   
  • RES 3: 93.64 High Dec 17  
  • RES 2: 93.38/45 High Dec 18 / 20-day EMA 
  • RES 1: 92.46/93.09 High Dec 12 / 21              
  • PRICE: 92.12 @ Close Dec 30
  • SUP 1: 91.64 Low Dec 19                        
  • SUP 2: 91.58 4.382 proj of the Dec 3 - 4 - 5 minor price swing
  • SUP 3: 91.45 4.500 proj of the Dec 3 - 4 - 5 minor price swing
  • SUP 4: 91.33 4.618 proj of the Dec 3 - 4 - 5 minor price swing

A strong bearish theme in Gilt futures remains in play and Monday’s gains are considered corrective - for now. The recent breach of 91.87, the Dec 19 low, confirms a resumption of the downtrend. Sights are on 91.58 next, a 4.382 projection of the Dec 3 - 4 - 5 minor price swing. Initial firm resistance is at 93.09, the Dec 20 high. Resistance at the 20-day EMA, is at 93.45, and the average is seen as an important hurdle for bulls.