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OUTLOOK: Price Signal Summary - Bear Cycle In Gilts Extends

OUTLOOK
BulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In the FI space, Bund futures are trading in a volatile manner and have recovered from their intraday low. The trend direction remains down and the earlier break to a fresh cycle low reinforces current conditions. The 131.00 handle has been cleared, signalling potential for an extension towards 129.99, a Fibonacci projection. Initial key resistance is at 132.22, today’s intraday high. A break of this level would be seen as an early bullish development.
  • A bearish condition in Gilt futures remains intact. The contract has recently traded through the 94.00 handle and is again trading lower, today. 92.99, a 2.00 projection of the Sep 17 - 30 - Oct 1 price swing has been pierced. This signals scope for an extension towards 92.23, a Fibonacci projection. The Oct 30 high of 96.65, is seen as a key S/T resistance where a break is required to highlight a possible base. Initial resistance is 94.73, Nov 1 high.
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  • In the FI space, Bund futures are trading in a volatile manner and have recovered from their intraday low. The trend direction remains down and the earlier break to a fresh cycle low reinforces current conditions. The 131.00 handle has been cleared, signalling potential for an extension towards 129.99, a Fibonacci projection. Initial key resistance is at 132.22, today’s intraday high. A break of this level would be seen as an early bullish development.
  • A bearish condition in Gilt futures remains intact. The contract has recently traded through the 94.00 handle and is again trading lower, today. 92.99, a 2.00 projection of the Sep 17 - 30 - Oct 1 price swing has been pierced. This signals scope for an extension towards 92.23, a Fibonacci projection. The Oct 30 high of 96.65, is seen as a key S/T resistance where a break is required to highlight a possible base. Initial resistance is 94.73, Nov 1 high.