Free Trial

(M9) Short Term Double Top Potential.....>

GILT TECHS
GILT TECHS: (M9) Short Term Double Top Potential
*RES 3: 129.74 High March 25 
*RES 2: 129.42 High April 2 
*RES 1: 129.05 High May 15 
*PRICE: 128.54 @ Close May 16 
*SUP 1: 127.73 Low May 8 
*SUP 2: 127.67/59 55-DMA/21-DMA 
*SUP 3: 127.11 100-DMA 
*SUP 4: 126.85 Low May 3 
Gilt futures failed to take out Wednesday's high yesterday with risk on flows
causing a weak close and suggesting a potential double top formation. A downside
break of the May 8 low at 127.73 would shift the focus to the key 21/55 DMAs
ahead of the May 3 low. To regain upside momentum bulls need to take out
Wednesday's high at 129.05. Above here sits the April 2 high at 129.42 ahead of
the March 25 high at 129.74. 

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.