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

OUTLOOK
BulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In the FI space, a bearish theme in Bund futures remains intact and the contract traded lower again, yesterday. Price has this week breached 132.58, the Oct 22 low. The break, together with the subsequent extension, confirms a resumption of the downtrend that started early October and signals scope for a continuation near-term. Sights are on the 131.00 handle next, the Jul 26 low. On the upside, initial key resistance has been defined at 132.65, the Sep 2 low.
  • Another steep sell-off in Gilt futures Thursday, confirms a resumption of the current downtrend. The contract has traded through the 94.00 handle and sights are set on 92.99 next, a 2.00 projection of the Sep 17 - 30 - Oct 1 price swing. Moving average studies remain in a bear-mode position, highlighting a dominant downtrend. On the upside, Wednesday’s intraday high of 96.65, is seen as a key short-term resistance where a break is required to highlight a possible short-term base. Initial resistance is 94.68m the Oct 31 high.
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  • In the FI space, a bearish theme in Bund futures remains intact and the contract traded lower again, yesterday. Price has this week breached 132.58, the Oct 22 low. The break, together with the subsequent extension, confirms a resumption of the downtrend that started early October and signals scope for a continuation near-term. Sights are on the 131.00 handle next, the Jul 26 low. On the upside, initial key resistance has been defined at 132.65, the Sep 2 low.
  • Another steep sell-off in Gilt futures Thursday, confirms a resumption of the current downtrend. The contract has traded through the 94.00 handle and sights are set on 92.99 next, a 2.00 projection of the Sep 17 - 30 - Oct 1 price swing. Moving average studies remain in a bear-mode position, highlighting a dominant downtrend. On the upside, Wednesday’s intraday high of 96.65, is seen as a key short-term resistance where a break is required to highlight a possible short-term base. Initial resistance is 94.68m the Oct 31 high.