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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 continue to trade below their recent highs. The latest pullback appears corrective and a short-term bull cycle is in play. The Jan 15 rally highlighted a reversal signal - a bullish engulfing candle. It continues to suggest scope for a corrective phase that is allowing an oversold trend condition to unwind. Sights are on 131.97, the 20-day EMA. A clear breach of the average would strengthen the bullish theme. The bear trigger is 130.28, the Jan 15 low. Initial support lies at 131.00, the Jan 16 / 24 low.
  • The medium-term trend condition in Gilt futures remains bearish. However, recent gains continue to highlight a corrective phase and signal scope for a continuation higher near-term. The contract has traded through the 20-day EMA and the focus is on 92.75, the 50.0% retracement of the Dec 3 - Jan 13 bear leg. A break would open 93.09, the Dec 20 high. Initial support is at 91.52, the Jan 24 low.
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  • In the FI space, Bund futures continue to trade below their recent highs. The latest pullback appears corrective and a short-term bull cycle is in play. The Jan 15 rally highlighted a reversal signal - a bullish engulfing candle. It continues to suggest scope for a corrective phase that is allowing an oversold trend condition to unwind. Sights are on 131.97, the 20-day EMA. A clear breach of the average would strengthen the bullish theme. The bear trigger is 130.28, the Jan 15 low. Initial support lies at 131.00, the Jan 16 / 24 low.
  • The medium-term trend condition in Gilt futures remains bearish. However, recent gains continue to highlight a corrective phase and signal scope for a continuation higher near-term. The contract has traded through the 20-day EMA and the focus is on 92.75, the 50.0% retracement of the Dec 3 - Jan 13 bear leg. A break would open 93.09, the Dec 20 high. Initial support is at 91.52, the Jan 24 low.