Free Trial

(M18) 100-DMA Now Capping *RES 4:........>

GILT TECHS
GILT TECHS: (M18) 100-DMA Now Capping
*RES 4: 123.03 High Apr 4 
*RES 3: 122.84 Highs Apr 11 & 18 
*RES 2: 122.19 Alternating hourly support/resistance 
*RES 1: 122.13 100-DMA
*PREVIOUS CLOSE: 121.93
*SUP 1: 121.49 High Apr 26 now support 
*SUP 2: 121.07 Low Mar 26 
*SUP 3: 120.69 Low Mar 21 
*SUP 4: 120.48 Low Feb 27
*COMMENTARY: Bulls take comfort in support emerging ahead of 120.69 that now
sees the contract pressuring the 100-DMA as O/S daily studies correct. Bulls now
need a close above the 100-DMA to shift initial focus to 122.84-123.03 where
monthly highs are situated. Initial support is now noted at 121.49 with bears
needing a close below to ease pressure on the 100-DMA. Bears then need a close
below 120.69 to hint at a move back to 119.29-83 with below 120.29 to confirm.

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.