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(M1) Key Resistance Is 129.27

GILT TECHS
  • RES 4: 130.38 High Feb 17 and 18
  • RES 3: 129.75 High Feb 19
  • RES 2: 129.27 High Mar 2 and the reversal trigger
  • RES 1: 128.93 High Mar 25
  • PRICE: 128.82 @ Close Apr 15
  • SUP 1: 127.81 Low Apr 14
  • 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 rebounded yesterday. The downtrend remains intact and short-term gains are considered corrective. Key near-term resistance levels are seen at 128.93, Mar 25 high and 129.27, Mar 2 high. A break of the latter level is required to signal a short-term reversal and the potential for stronger gains. On the downside, a breach of support at 127.81, Apr 14 low would reinstate a near-term bearish tone and expose support at 127.32, Apr 1 low.

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