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Price Signal Summary - Gilts Clear Support

OUTLOOK
  • In the FI space, a bear threat in Bund futures remains present. Yesterday’s resumption of weakness strengthens a bearish theme and attention is on key support at 131.23, the Feb 29 low. Clearance of this level would confirm a resumption of the downtrend that started late last year and open 130.60, the 1.50 projection of the Dec 27 - Feb 29 - Mar 8 price swing. On the upside, a break of 133.48, Mar 27 high, is needed to reinstate a bullish theme. Initial resistance is 132.80, 50-day EMA.
  • A bear threat in Gilt futures remains present and the contract traded lower Wednesday. Today’s weakness reinforces the bearish theme. Key support at 98.05, Mar 15 low, has been cleared. Note too that 97.67, 76.4% of the Feb 29 - Mar 12 rally, has also been cleared and key support at 96.83, the Feb 29 low, has been pierced. A continuation lower would open 96.57,1.50 proj of the Mar 12 - 15 - 22 price swing. Initial firm resistance is 99.37, the Apr 4 high.
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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