Free Trial

(M18) Lacks Traction Below Bull..........>

GILT TECHS: (M18) Lacks Traction Below Bull Channel Base
*RES 4: 123.57 Low Dec 1 now resistance 
*RES 3: 123.03 High Apr 4 
*RES 2: 122.84 High Apr 11 
*RES 1: 122.11 21-DMA
*SUP 1: 121.61 Daily Bull channel base off Feb low 
*SUP 2: 121.33 55-DMA 
*SUP 3: 121.20 Bollinger band base 
*SUP 4: 121.04 Low Mar 22
*COMMENTARY: Traction on the break of the daily bull channel base (121.67) off
Feb lows has so far been lacking with bears continue to look for a close below
the 55-DMA to confirm a break, hint at a move back to 119.29-83 and below 120.69
to confirm. Bulls need a close above the 21-DMA to gain breathing room and hint
at a bounce back to 122.84-123.03 where Apr highs so far are found.

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.