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Price Signal Summary - Gilts Maintain A Bearish Tone

OUTLOOK
  • In the FI space, Bund futures traded lower Tuesday and this undermines the recent bullish theme. The pullback highlights a stronger bearish reversal and the end of the recent corrective recovery between Oct 4 - 12. Note that the M/T trend direction is down and moving average studies reflect this. A continuation lower would open 126.62, the Oct 4 low and bear trigger. Key short-term resistance and a bull trigger has been defined at 130.20, the Oct 12 high.
  • Gilt futures faced resistance last Thursday and 95.66, the Oct 12 high, has been defined as a key short-term hurdle for bulls. The contract has traded lower this week and remains soft. Support to watch lies at 92.48, 76.4% of the Oct 4 - 12 rally. A breach would strengthen bearish conditions and open key support and the bear trigger at 91.47, the Aug 17 low. For bulls, a clearance of 95.66 would confirm a resumption of the recent rally. Initial resistance is at 93.92, the 20-day EMA.
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Fixed Income Technical AnalysisHomepageBond Market Newsmarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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