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Price Signal Summary - Gilt Futures Approach Resistance At The 20-day EMA

OUTLOOK
  • In the FI space, {GE} Bund futures remain in a downtrend, however, the contract has entered a short-term bullish corrective cycle. Yesterday’s strong rally reinforces this bullish theme and price has cleared the 20-day EMA. This opens 143.68, 38.2% retracement of the Aug 2 - Sep 28 bear leg.
  • A strong rally last Wednesday in {GB} Gilt futures led to a short-term reversal and yesterday’s gains have reinforced the short-term bullish outlook. In pattern terms, the Sep 28 session was an engulfing candle and signals scope for a continuation higher near-term. Attention is on resistance at the 20-day EMA, at 101.49.
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  • In the FI space, {GE} Bund futures remain in a downtrend, however, the contract has entered a short-term bullish corrective cycle. Yesterday’s strong rally reinforces this bullish theme and price has cleared the 20-day EMA. This opens 143.68, 38.2% retracement of the Aug 2 - Sep 28 bear leg.
  • A strong rally last Wednesday in {GB} Gilt futures led to a short-term reversal and yesterday’s gains have reinforced the short-term bullish outlook. In pattern terms, the Sep 28 session was an engulfing candle and signals scope for a continuation higher near-term. Attention is on resistance at the 20-day EMA, at 101.49.