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(U2) Off Lows, But Still Fragile

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A Little Firmer

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(M2) Challenging Trendline Resistance

GILT TECHS
Fixed Income Technical Analysismarkets-real-timeBulletMarketsFixed Income
  • RES 4: 122.35 High Apr 4
  • RES 3: 121.05 50-day EMA
  • RES 2: 120.47 High Apr 8
  • RES 1: 119.79 High Apr 25
  • PRICE: 119.42 @ Close Apr 27
  • SUP 1: 118.27/117.22 Low Apr 25 / Low Apr 22 and a bear trigger
  • SUP 2: 117.04 0.764 proj of the Mar 1 - 28 - Apr 4 price swing
  • SUP 3: 116.35 Low Dec 30 2015
  • SUP 4: 115.40 1.00 proj of the Mar 1 - 28 - Apr 4 price swing

The broader trend condition in Gilt futures remains bearish. However recent gains suggest potential for a stronger short-term recovery. Tuesday’s climb resulted in a print and close, above the 20-day EMA. Furthermore, price has also traded above a trendline resistance drawn from the Mar 1 high. An extension would open the 120.00 handle and 121.05, the 50-day EMA. Key support and the bear trigger has been defined at 117.22.

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  • RES 4: 122.35 High Apr 4
  • RES 3: 121.05 50-day EMA
  • RES 2: 120.47 High Apr 8
  • RES 1: 119.79 High Apr 25
  • PRICE: 119.42 @ Close Apr 27
  • SUP 1: 118.27/117.22 Low Apr 25 / Low Apr 22 and a bear trigger
  • SUP 2: 117.04 0.764 proj of the Mar 1 - 28 - Apr 4 price swing
  • SUP 3: 116.35 Low Dec 30 2015
  • SUP 4: 115.40 1.00 proj of the Mar 1 - 28 - Apr 4 price swing

The broader trend condition in Gilt futures remains bearish. However recent gains suggest potential for a stronger short-term recovery. Tuesday’s climb resulted in a print and close, above the 20-day EMA. Furthermore, price has also traded above a trendline resistance drawn from the Mar 1 high. An extension would open the 120.00 handle and 121.05, the 50-day EMA. Key support and the bear trigger has been defined at 117.22.