Free Trial

(M18) Recovery Benefits From Hold Of.....>

GILT TECHS
GILT TECHS: (M18) Recovery Benefits From Hold Of 120.72 Fibo Support
*RES 4: 122.10/15 Apr 5 low, 61.8% Fibo of 123.03-120.73
*RES 3: 122.00 Apr 20 high
*RES 2: 121.88 50% Fibo of 123.03-120.73
*RES 1: 121.70/75 Hourly resistance
*PRICE: 121.66 @0737GMT 
*SUP 1: 121.35/37 Hourly support, initial rally high Apr 26
*SUP 2: 121.11 Hourly base Apr 26
*SUP 3: 120.94/97 Initial recovery highs Apr 25
*SUP 4: 120.72/73 61.8% Fibo of 119.29-123.03, Apr 5 low
*COMMENTARY* Support from above the 61.8% Fibo retrace level at 120.72 has held
firm this week, this at the top edge of what looked a decent band of support
above the lower 1% volatility band, at 120.34 by time today. In the interim,
resistance from 121.21-121.27 has been broken, generating upside interest,
furthered by clearance of 121.48. The 121.70-121.75 area is the next test to
overcome, 121.88-122.00 above. Support rises in the meantime to 121.35-121.11.

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.