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Price Signal Summary - Corrective Cycle In Gilts Remains In Play

OUTLOOK
  • In the FI space, Bund futures have rallied sharply higher this week. The move has resulted in a break of resistance at the 20-day EMA, which intersects at 132.72. This strengthens the short-term bull cycle and a continuation higher would open 133.68, the Jul 5 high. For bears, a reversal lower would refocus attention on key support at 130.60, the Jul 10 low. Note that the medium-term trend direction remains down.
  • The Gilt futures trend needle continues to point south, however, a corrective cycle has resulted in a short-term recovery. The contract has traded above the 20-day EMA, at 94.55. A continuation higher would signal scope for a climb towards a key short-term resistance at 95.55, the Jul 3 high. On the downside, a reversal lower would refocus attention on 92.09, the Jul 7 low and bear trigger.
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Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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