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Price Signal Summary - Bull Cycle In Gilts Still In Play

OUTLOOK
  • In the FI space, Bund futures continue to trade below their recent highs but - for now - a firmer short-term tone remains intact. The recent breach of key resistance at 130.20, Oct 12 high and a bull trigger, strengthens current bullish conditions and maintains a positive price sequence of higher highs and higher lows. Sights are on 131.33, 76.4% of the Sep 1 - Oct 4 downleg. Firm support to watch is 129.35, the Nov 7 low. A breach would highlight a possible reversal.
  • Gilt futures maintain a firmer tone and the latest pullback is considered corrective. The contract traded to a fresh high last week and price has recently cleared 93.82 and 94.52, the 61.8% and 76.4% retracement points of the Oct 12 - 23 bear leg. Last week’s gains resulted in a print above 95.66, the Oct 12 high. A clear break of this level would strengthen a bullish case and open 96.71, the Sep 20 high. First support is 94.11, the 50-day EMA.
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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