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Price Signal Summary - Gilts Hold On To Recent Gains

OUTLOOK
  • In the FI space, a strong rally in Bund futures on Aug 23 resulted in a break of resistance at the 20- and 50-day EMA values. That move higher threatens the recent bearish theme and signals scope for a stronger recovery. This has exposed 133.45, the Aug 8 high and the next key resistance. On the downside, initial firm support to watch lies at 131.20, the Aug 23 low. A break of this level would instead be seen as a bearish development.
  • A bearish theme in Gilt futures remains intact, however, a strong rally last week suggests the contract remains in a short-term corrective cycle. Price is holding on to the bulk of its recent gains reinforcing a short-term bullish theme. An extension higher would open 95.82, the Aug 10 high (cont). Note that trend signals continue to highlight a downtrend. The bear trigger has been defined at 91.47, the Aug 17 low. Initial support lies at 94.14, the Aug 29 low.
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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