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Price Signal Summary - Gilt Futures Trade Through First Support

OUTLOOK
  • In the FI space, the Bund futures trend direction is up and the latest pullback is considered corrective - for now. Moving average studies have crossed, to highlight a bull mode condition. This signals a stronger reversal. A positive price sequence of higher highs and higher lows also remains intact. Firm support to watch has been defined at 139.13, the Nov 28 low.
  • Gilt futures have edged lower this week and traded through support at 104.79, the Nov 30 low. The pullback is considered corrective. However, attention turns to the next firm support at 103.54, Nov 21 low. A break of this level would undermine the bullish theme.

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