Free Trial

(M18) Correction Finds Support In........>

GILT TECHS
GILT TECHS: (M18) Correction Finds Support In 121.64-121.58 Area So Far
*RES 4: 123.03 Apr 4 high
*RES 3: 122.84 Apr 11 high
*RES 2: 122.50/60 Hourly highs Apr 6-Apr 11
*RES 1: 122.20 Apr 5 low, hourly resistance
*PRICE: 121.72 @0740GMT 
*SUP 1: 121.63/64 Apr 13 low, 1.618 swing of 122.10-122.84
*SUP 2: 121.58 61.8% Fibo of 120.69-123.03
*SUP 3: 121.44/49 Initial high Mar 22, Mar 23 low
*SUP 4: 121.24 76.4% Fibo of 120.69-123.03
*COMMENTARY* Another attempt early this month to break through the swing target
at 123.00, a high of 123.03 on Apr 4 before once again submitting to near term
overbought conditions. The subsequent loss of 122.59-122.46 support has seen
recent upside momentum lost and opening the possibility of a deeper correction
of gains seem from the Mar 21 low at 120.69. Now looking to 121.64-121.44 for
next support. Nearest resistance drops to 122.10-122.20.

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.