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Price Signal Summary - Bounce In Gilts Considered Corrective

OUTLOOK
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income NewsForeign Exchange News
  • In the FI space, Bund futures remain in a downtrend and the contract has traded lower once again today. This has resulted in a test below the 132.00 handle and signals potential for weakness towards 131.57, support based on a MA envelope study. Initial firm resistance to watch is at 135.15, the 20-day EMA. Short-term gains would be considered corrective. First resistance is at 133.61, the Feb 28 high.
  • Gilt futures have recovered from Tuesday’s intraday low of 99.20 and the contract is trading higher today. Despite these gains, trend conditions remain bearish and this week’s lows reinforce current conditions. The move down confirms a resumption of the trend and note that the 100.00 handle has been cleared. A continuation lower would open 99.17, the 1.382 projection of the Feb 20 - 23 - 24 price swing. On the upside, resistance is seen at Monday’s 100.98 high.
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  • In the FI space, Bund futures remain in a downtrend and the contract has traded lower once again today. This has resulted in a test below the 132.00 handle and signals potential for weakness towards 131.57, support based on a MA envelope study. Initial firm resistance to watch is at 135.15, the 20-day EMA. Short-term gains would be considered corrective. First resistance is at 133.61, the Feb 28 high.
  • Gilt futures have recovered from Tuesday’s intraday low of 99.20 and the contract is trading higher today. Despite these gains, trend conditions remain bearish and this week’s lows reinforce current conditions. The move down confirms a resumption of the trend and note that the 100.00 handle has been cleared. A continuation lower would open 99.17, the 1.382 projection of the Feb 20 - 23 - 24 price swing. On the upside, resistance is seen at Monday’s 100.98 high.