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Resend: TECHS: Price Signal Summary - Gilts Hurtle Through 135.00

MARKET INSIGHT
  • EU FI technical conditions remain bullish.
    • Bund (H1) is testing above 178.38, 76.4% of the Nov 4 - 11 sell-off. A clear break would open 178.55, Nov 9 high
    • Gilts (H1) gapped higher at the open and cleared the 135.00 handle. This opens 135.67 next, the 1.236 projection of the Nov 11 - 30 rally from the Dec 2 low.
    • Treasuries (H1) are unchanged and maintain a softer stance. Support and the downside trigger at 137-07+, Dec 4 low remains exposed.
  • In FX, Sterling volatility remains the order of the day. Initial directional parameters in Cable are unchanged. Resistance is at 1.3539, Dec 7 and 1.3225, the Dec 7 low. EURGBP technical readings remain bullish despite this week's price swings. The key support to monitor is 0.8953 today, the former trendline resistance drawn off the Sep 11 high.
  • On the commodity front, Gold key support lies at $1822.5, Dec 7 low. A break would signal scope a deeper pullback. Potential remains for gains to the $1888.9 level, 61.8% retracement of the Nov 9 - 30 sell-off. Brent (G1) bullish objectives are set at $50.00 and $50.45, 61.8% of Jan - Apr sell-off (cont). WTI (F1) bulls, eye $48.07, 0.764 projection of the Apr - Aug rally from the Nov 2 low.
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