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Price Signal Summary - Gilt Futures Pullback Exposes Key Short-Term Support

OUTLOOK
  • In the FI space, the Bund futures trend direction remains up and the latest pullback is still considered corrective. Firm support has been defined at 139.13, Nov 28 low. A break of this level would threaten the trend. For bulls, a resumption of gains would open 143.00.
  • Gilt futures traded lower again Tuesday to extend the pullback from last week’s highs. The break of support at 104.79, Nov 30 low, exposes a firmer support at 103.54, the Nov 21 low. Clearance of this level would strengthen a bearish threat and signal scope for a deeper pullback. This would open 103.00. On the upside, the bull trigger is unchanged at 107.06, the Nov 24 high.

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