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OUTLOOK: Price Signal Summary - Key Support In Gilts Remains Exposed

OUTLOOK
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  • In the FI space, Bund futures are holding on to their recent gains. The move down between Sep 11 - 20, is considered corrective. A resumption of weakness would highlight an extension of this corrective phase and open the 50-day EMA, at 133.79. Clearance of this average is required to undermine a bullish theme. For bulls, a stronger reversal higher would refocus attention on key resistance and the bull trigger at 135.66, the Aug 5 high.
  • The bull cycle in Gilt futures appears to have concluded and a bear threat remains present. With the contract trading closer to its recent lows, sights are on the next key support at 98.11, the Sep 2 low. A break of this level would strengthen the bearish theme and open 98.00. On the upside, key near-term resistance is seen at 99.50, the 20-day EMA. A clear break of this average is required to instead highlight a possible reversal.
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  • In the FI space, Bund futures are holding on to their recent gains. The move down between Sep 11 - 20, is considered corrective. A resumption of weakness would highlight an extension of this corrective phase and open the 50-day EMA, at 133.79. Clearance of this average is required to undermine a bullish theme. For bulls, a stronger reversal higher would refocus attention on key resistance and the bull trigger at 135.66, the Aug 5 high.
  • The bull cycle in Gilt futures appears to have concluded and a bear threat remains present. With the contract trading closer to its recent lows, sights are on the next key support at 98.11, the Sep 2 low. A break of this level would strengthen the bearish theme and open 98.00. On the upside, key near-term resistance is seen at 99.50, the 20-day EMA. A clear break of this average is required to instead highlight a possible reversal.