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(M4) Short-Term Trend Direction Remains Up

GILT TECHS


  • RES 4: 101.00 Round number support
  • RES 3: 100.73 1.764 projection of the Feb 29 - Mar 1 - 4 price swing
  • RES 2: 100.50 1.618 projection of the Feb 29 - Mar 1 - 4 price swing
  • RES 1: 100.37 High Mar 13
  • PRICE: 99.80 @ Close Mar 12
  • SUP 1: 98.33/97.91 Low Mar 5 / 4
  • SUP 2: 97.42 Low Mar 1
  • SUP 3: 96.83 Low Feb 29 and the bear trigger
  • SUP 4: 96.00 Round number support

Gilt futures remain in a bull-mode set-up. The contract traded higher last week, extending the recovery from the Feb 29 low. Price remains firm this week. Resistance at 98.53, Feb 26 high, has recently been cleared. The break signals scope for a continuation higher near-term with sights on 100.50 next, a Fibonacci projection. Key support and bear trigger is at 96.83, Feb 29 low. Initial support is 98.33, Mar 5 low.

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