Free Trial

(M2) Fresh Cycle Low

GILT TECHS
  • RES 4: 122.35 High Apr 4
  • RES 3: 120.96 High Apr 6
  • RES 2: 120.25 50-day EMA
  • RES 1: 118.75/119.79 20-day EMA / High Apr 25 and key resistance
  • PRICE: 118.11 @ Close May 9
  • SUP 1: 116.87 Low May 9
  • SUP 2: 116.35 Low Dec 30 2015 (cont)
  • SUP 3: 115.40 1.00 proj of the Mar 1 - 28 - Apr 4 price swing
  • SUP 4: 115.00 Round number support

The Gilt futures trend condition remains bearish. Moving average studies continue to point south and the dominant bearish price sequence of lower lows and lower highs remains intact. A firm resistance has been defined at 119.79, Apr 26 high where a break is required to reinstate a bullish theme. Yesterday's print below support at 117.22, Apr 22 low, signals a resumption of the downtrend. Short-term gains are considered corrective.

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.