Free Trial

(M3) Bear Leg Extends

GILT TECHS
  • RES 4: 103.45 High Apr 13
  • RES 3: 103.19 20-day EMA
  • RES 2: 102.37 High Apr 17
  • RES 1: 101.60 High Apr 18
  • PRICE: 101.22 @ Close Apr 18
  • SUP 1: 101.04 Low Apr 18
  • SUP 2: 100.91 High Mar 9 and a gap low on the daily chart
  • SUP 3: 100.06 Low Mar 9
  • SUP 4: 99.55 Low Mar 8

A short-term bearish theme in Gilt futures remains in play and the contract traded lower Tuesday. Price has recently breached support at 102.74, the Mar 20 low and bear trigger. The break lower has also resulted in a move through 102.00 and 101.12 has been pierced, the 76.4% retracement of the Feb 28 - Mar 20 rally. A continuation lower would open 100.06, the Mar 9 low. Initial firm resistance is seen at 103.19, the 20-day EMA.

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.