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Free Access(M18) Bears Need Close Below 120.29......>
GILT TECHS: (M18) Bears Need Close Below 120.29
*RES 4: 122.59 100-DMA
*RES 3: 122.35 55-DMA
*RES 2: 121.83 Daily Bull channel top
*RES 1: 121.55 High Jan 30, Bollinger band top
*PREVIOUS CLOSE: 121.12
*SUP 1: 120.69 Daily Bull channel base
*SUP 2: 120.29 Low Feb 22
*SUP 3: 119.83 Low Feb 20
*SUP 4: 119.29 Monthly Low Feb 15
*COMMENTARY: M18 continues to gain traction above the 21-DMA (120.55) with bulls
looking for a close above 121.55 to add support to the case for a move targeting
55 & 100-DMAs. The Bollinger top lurking above is likely to be an issue and
limit follow through when challenged. Bears now need a close below 120.29 to
ease bullish pressure and see focus return to tests of 119.29 Feb lows so far
for M18.
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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.