Free Trial

(M1) Key Support Zone Exposed

  • RES 4: 130.38 High Feb 17 / 18
  • RES 3: 129.75 High Feb 19
  • RES 2: 129.09/27 High Apr 23 and the reversal trigger / High Mar 2
  • RES 1: 128.80 High May 7
  • PRICE: 127.77 @ Close May 11
  • 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)

The Gilt futures outlook remains bearish. The pullback from 128.80, last week's high on May 7, refocuses attention on a firm area of support between 127.40 and 127.32, the Apr 29 and Apr 1 lows respectively. Clearance of this zone would strengthen a bearish case and expose the major support at 126.79, Mar 18 low and the bear trigger. A break of 126.79 would confirm a resumption of the broader downtrend. Initial firm resistance is 128.80.

To read the full story



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.