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OUTLOOK: Price Signal Summary - Bull Cycle In Gilts Remains In Play

OUTLOOK
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In the FI space, Bund futures have traded higher this week and the contract is holding on to its latest gains. A bullish theme remains intact and an extension is likely. Price has recently breached 133.39, 50.0% of the Oct 1 - Nov 6 bear leg. The move higher has also resulted in a breach of; 134.05, the 61.8% retracement point, and 134.25, the high on Oct 16 and 18. This opens 134.87 next, the 76.4% retracement. Initial firm support to watch is 132.90, the 20-day EMA.
  • A bullish corrective cycle in Gilt futures remains in play and this week’s climb reinforces current bullish conditions. A continuation higher would pave the way for a climb towards 96.33 next, the 2.236 projection of the Nov 18 - 19 - 20 price swing. On the downside, a reversal lower would refocus attention on the initial key support at 93.40, the Nov 18 low. First support lies at 95.17, the Nov 28 low.
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  • In the FI space, Bund futures have traded higher this week and the contract is holding on to its latest gains. A bullish theme remains intact and an extension is likely. Price has recently breached 133.39, 50.0% of the Oct 1 - Nov 6 bear leg. The move higher has also resulted in a breach of; 134.05, the 61.8% retracement point, and 134.25, the high on Oct 16 and 18. This opens 134.87 next, the 76.4% retracement. Initial firm support to watch is 132.90, the 20-day EMA.
  • A bullish corrective cycle in Gilt futures remains in play and this week’s climb reinforces current bullish conditions. A continuation higher would pave the way for a climb towards 96.33 next, the 2.236 projection of the Nov 18 - 19 - 20 price swing. On the downside, a reversal lower would refocus attention on the initial key support at 93.40, the Nov 18 low. First support lies at 95.17, the Nov 28 low.