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Price Signal Summary - Downtrend In Gilts Extends

OUTLOOK
  • In the FI space, a clear downtrend in Bund futures remains intact and price is trading below both the 20- and 50-day EMAs. The recent move lower strengthens the current bear trend and maintains the price sequence of lower lows and lower highs. Key support at the Dec 8 low of 134.37, has recently been breached and this opens 133.42, the Dec 4 low. Initial resistance is at 135.02, the 20-day EMA. A clear break of the average would ease bearish pressure.
  • The trend needle in Gilt futures continues to point south and this week’s move lower reinforces current conditions. The contract last week cleared support at 99.60, the Jan 5 low. This confirmed a resumption of the downtrend that started Dec 27, signalling scope for an extension towards 97.39, the Dec 11 low. Firm resistance to watch is 99.67, the 20-day EMA. A clear break of the average would ease bearish pressure.
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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