Free Trial

(M18) Pivotal 120.48 Support Stays Out...>

GILT TECHS
GILT TECHS: (M18) Pivotal 120.48 Support Stays Out Of Trouble So Far
*RES 4: 122.33 1% volatility band
*RES 3: 122.01/02 50% Fibo of 124.73-119.29, Mar 2 high
*RES 2: 121.68 Hourly recovery high Mar 5
*RES 1: 121.43 Mar 2 low, now resistance
*PRICE: 121.13 @0925GMT 
*SUP 1: 120.72/74 Hourly support
*SUP 2: 120.48/53 Feb 27, Mar 6 lows
*SUP 3: 120.29/33 Feb 22 low, 61.8% of 119.29-122.02
*SUP 4: 119.93 76.4% Fibo of 119.29-122.02
*COMMENTARY* Had continued to recover since finding a base at 119.29, in the
middle of last month. The further lift through 121.37 last week saw the rally
move towards the next Fibo retrace level, the 50%, at 122.01. Unable to maintain
a break through here and has succumbed to some overbought hourly conditions.
Support from 121.05-120.82 has been lost, so eyes now on 120.74-120.72 and
especially the Feb 27 low at 120.48. Nearest resistance now 121.43-121.68.

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.