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Price Signal Summary - Gilts Breach Important Retracement Point

OUTLOOK
  • In the FI space, Bund futures have continued to appreciate and the contract is trading just ahead of key resistance at 130.20, the Oct 12 high and a bull trigger. A break of this hurdle would strengthen current bullish conditions and signal scope for a stronger corrective phase. This would open 130.43, 61.8% of the Sep 1 - Oct 4 downleg. Initial support to watch is 128.31, the Oct 27 low. A break would highlight a possible reversal.
  • Gilt futures are trading higher today as the recovery from the Oct 23 low extends. The contract has traded through 93.82, 61.8% of the Oct 12 - 23 bear leg, and pierced 94.52, the 76.4% retracement point. A continuation higher would signal scope for a possible test of resistance at 95.66, the Oct 12 high. On the downside, initial support to watch is 92.63, the Nov 1 low. A break would be seen as a bearish development.
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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