September 29, 2022 10:16 GMT
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- In the FI space, Bund futures remain in a clear downtrend and the extension lower last week and this week, confirms a resumption of the bear leg that started early August. The focus is on 135.27, the Mar 2012 low (cont).
- Gilts have traded in an extremely volatile manner, however, trend signals remain bearish. A resumption of weakness would refocus attention on 90.99, Wednesday low and the bear trigger. Note that in pattern terms, yesterday’s session is a bullish engulfing candle. However, additional reinforcing price evidence is required to validate this signal and confirm a short-term shift in market sentiment.