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(M1) Remains Below Key Resistance

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: 129.09 High Apr 23
  • PRICE: 128.41 @ Close Apr 27
  • SUP 1: 128.26/27.81 Low Apr 19 / 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)

The Gilt futures are unchanged. The downtrend remains intact and short-term gains are still considered corrective. The contract is trading close to a host of key resistance levels defined by 128.93, Mar 25 high and 129.27, Mar 2 high. The former level has recently been probed but a clear breach of this zone is still required to signal a base and a stronger reversal. Support and the near-term bear trigger is unchanged at 127.81, Apr 14 low.

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