Free Trial

(M1) Corrective Gains

GILT TECHS
  • RES 4: 129.75 High Feb 19
  • RES 3: 129.09/27 High Apr 23 and the reversal trigger / High Mar 2
  • RES 2: 128.66/128.72 High Apr 26 / 50-day EMA
  • RES 1: 128.51 High May 4
  • PRICE: 128.27 @ Close May 6
  • SUP 1: 127.40 Low Apr 29
  • SUP 2: 127.32 Low Apr 1
  • SUP 3: 126.79 Low Mar 18 and the bear trigger
  • SUP 4: 126.55 Low Apr 17, 2019 (cont)

Gilt futures traded higher yesterday. Despite this week's gains a bearish theme remains intact after the breach on Apr 28/29 of support at 127.81, Apr 14 low. This move strengthens a bearish case following the recent pullback from 129.09, Apr 23 high and the area of resistance around the 50-day EMA. An extension lower would open 127.32, Apr 1 low ahead of the key support at 126.79, Mar 18 low. Key resistance is unchanged at 129.09.

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.