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OUTLOOK: Price Signal Summary - Trend Needle In Gilts Points South

OUTLOOK
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  • In the FI space, Bund futures have pulled back from their latest highs. Recent short-term gains are - for now - considered corrective. The trend direction is down and the Nov 6 break to a fresh cycle low reinforces this theme. The 131.00 handle has been cleared, signalling potential for 129.99, the 1.236 projection of the Oct 1 - 10 -16 price swing. Initial key resistance is at 132.43, the 20-day EMA (pierced). A clear break of it would be seen as an early bullish development.
  • The trend condition in Gilt futures is unchanged, it remains bearish. Short-term gains are considered corrective. The contract has recently breached 92.99, a 2.00 projection of the Sep 17 - 30 - Oct 1 price swing. This signals scope for an extension towards 92.23, the 2.236 projection. Initial resistance is 94.73, Nov 1 high.
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  • In the FI space, Bund futures have pulled back from their latest highs. Recent short-term gains are - for now - considered corrective. The trend direction is down and the Nov 6 break to a fresh cycle low reinforces this theme. The 131.00 handle has been cleared, signalling potential for 129.99, the 1.236 projection of the Oct 1 - 10 -16 price swing. Initial key resistance is at 132.43, the 20-day EMA (pierced). A clear break of it would be seen as an early bullish development.
  • The trend condition in Gilt futures is unchanged, it remains bearish. Short-term gains are considered corrective. The contract has recently breached 92.99, a 2.00 projection of the Sep 17 - 30 - Oct 1 price swing. This signals scope for an extension towards 92.23, the 2.236 projection. Initial resistance is 94.73, Nov 1 high.