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OUTLOOK: Price Signal Summary - Gilts Remain Soft

OUTLOOK
BulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In the FI space, a bearish theme in Bund futures remains intact. Price has breached a recent support at 132.58, the Oct 22 low. The break, together with yesterday’s sell-off, 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.
  • Gilt futures traded in a volatile manner yesterday. The steep sell-off from Wednesday’s intraday high, reinforces a bearish condition and confirms a resumption of the current downtrend. The contract has traded through the 95.00 handle and sights are set on 93.75, a 1.764 projection of the Sep 17 - 30 - Oct 1 price swing. 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.
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  • In the FI space, a bearish theme in Bund futures remains intact. Price has breached a recent support at 132.58, the Oct 22 low. The break, together with yesterday’s sell-off, 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.
  • Gilt futures traded in a volatile manner yesterday. The steep sell-off from Wednesday’s intraday high, reinforces a bearish condition and confirms a resumption of the current downtrend. The contract has traded through the 95.00 handle and sights are set on 93.75, a 1.764 projection of the Sep 17 - 30 - Oct 1 price swing. 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.