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(M4) Trend Structure Remains Bearish

GILT TECHS
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income Bullets
  • RES 4: 100.05 High Mar 22
  • RES 3: 99.37 High Apr 4
  • RES 2: 99.10 High Apr 10
  • RES 1: 97.78/98.23 20-day EMA / High Apr 12
  • PRICE: 97.26 @ Close Apr 22
  • SUP 1: 96.45/01 Low Apr 19 / 17
  • SUP 2: 95.96 1.764 proj of the Mar 12 - 15 - 22 price swing
  • SUP 3: 95.41 2.00 proj of the Mar 12 - 15 - 22 price swing
  • SUP 4: 95.00 Round number support

Despite the latest recovery, a bearish theme in Gilt futures remains intact. The contract traded lower last week, delivering a fresh cycle low of 96.01 on Apr 17. The move down maintains the bearish price sequence of lower lows and lower highs. Furthermore, MA studies have crossed, highlighting a bear-mode set-up. Scope is seen for an extension towards 95.96 next, a Fibonacci projection. Initial firm resistance is 98.23, the Apr 12 high.

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  • RES 4: 100.05 High Mar 22
  • RES 3: 99.37 High Apr 4
  • RES 2: 99.10 High Apr 10
  • RES 1: 97.78/98.23 20-day EMA / High Apr 12
  • PRICE: 97.26 @ Close Apr 22
  • SUP 1: 96.45/01 Low Apr 19 / 17
  • SUP 2: 95.96 1.764 proj of the Mar 12 - 15 - 22 price swing
  • SUP 3: 95.41 2.00 proj of the Mar 12 - 15 - 22 price swing
  • SUP 4: 95.00 Round number support

Despite the latest recovery, a bearish theme in Gilt futures remains intact. The contract traded lower last week, delivering a fresh cycle low of 96.01 on Apr 17. The move down maintains the bearish price sequence of lower lows and lower highs. Furthermore, MA studies have crossed, highlighting a bear-mode set-up. Scope is seen for an extension towards 95.96 next, a Fibonacci projection. Initial firm resistance is 98.23, the Apr 12 high.