Free Trial

(M3) Key Support Remains Intact

GILT TECHS
  • RES 4: 103.53 50.0% retracement of the Mar 20 - Apr 19 bear leg
  • RES 3: 102.99 High Apr 14
  • RES 2: 102.63 38.2% retracement of the Mar 20 - Apr 19 bear leg
  • RES 1: 101.98/102.46 High May 11 / 3
  • PRICE: 100.93 @ Close May 12
  • SUP 1: 100.65/99.97 Low May 11 / 10
  • SUP 2: 99.73 Low Apr 19 and a key near-term support
  • SUP 3: 99.55 Low Mar 8
  • SUP 4: 99.20 Low Feb 28 and key support

Key support in Gilt futures lies at 99.73, the Apr 19 low. A resumption of gains would refocus attention on resistance at 102.46 the May 3 high, where a break is required to reinstate a bullish theme. This would signal scope for climb towards 102.63, a Fibonacci retracement and 102.99, the Apr 14 high. For bears, a break of 99.73 would instead confirm a resumption of the downtrend that started Mar 20.

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.