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(M3) Uptrend Remains Intact

GILT TECHS
  • RES 4: 108.92 High Nov 24 (cont) and a key resistance
  • RES 3: 108.00 Round number resistance
  • RES 2: 107.78 High Feb 2 and a key resistance (cont)
  • RES 1: 106.00/107.33 Round number resistance / High Mar 20
  • PRICE: 105.43 @ Close Mar 20
  • SUP 1: 104.12 Low Mar 16
  • SUP 2: 103.26 50.0% retracement of the entire rally from Feb 28
  • SUP 3: 102.93 20-day EMA
  • SUP 4: 102.40 Low Mar 13

Gilt futures remain above support at 103.12, the Mar 15 low. The outlook is bullish - for now - and potential is seen for a climb towards the 108.00 handle. The contract traded higher Friday and again Monday to reinforce bullish conditions. Short-term pullbacks are considered corrective. Firm support is seen at the 20-day EMA, where a break would strengthen any developing bearish threat. The average intersects at 102.93.

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