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OUTLOOK: Price Signal Summary - Bear Threat In Gilts Remains Present

OUTLOOK
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  • In the FI space, Bund futures traded sharply higher Tuesday and this resulted in a break above key resistance and a bull trigger at 135.66. A clear break of this hurdle confirms a resumption of the medium-term uptrend and paves the way for a climb towards 136.77, a 1.00 projection of the Sep 2 - 11 - 20 price swing. Moving average studies remain in a bull-mode position highlighting a clear uptrend. On the downside, initial firm support lies at 134.59, the 20-day EMA. Today’s pullback appears to be a correction.
  • A bear threat in Gilt futures remains present. The recent move lower has exposed the next key support at 98.11, the Sep 2 low and a bear trigger. A break of this level would strengthen the bearish theme and open 98.00. On the upside, key near-term resistance is seen at 99.38, the 20-day EMA. It has been pierced, however a clear break of this average is required to highlight a possible reversal.
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  • In the FI space, Bund futures traded sharply higher Tuesday and this resulted in a break above key resistance and a bull trigger at 135.66. A clear break of this hurdle confirms a resumption of the medium-term uptrend and paves the way for a climb towards 136.77, a 1.00 projection of the Sep 2 - 11 - 20 price swing. Moving average studies remain in a bull-mode position highlighting a clear uptrend. On the downside, initial firm support lies at 134.59, the 20-day EMA. Today’s pullback appears to be a correction.
  • A bear threat in Gilt futures remains present. The recent move lower has exposed the next key support at 98.11, the Sep 2 low and a bear trigger. A break of this level would strengthen the bearish theme and open 98.00. On the upside, key near-term resistance is seen at 99.38, the 20-day EMA. It has been pierced, however a clear break of this average is required to highlight a possible reversal.