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Free AccessPrice Signal Summary - Gilts Remain Above Support For Now
- In the FI space, a bull cycle in Bund futures remains in play and recent gains reinforce the current trend condition. 133.21, the Jun 14 high, was cleared on Jul 29, confirming a resumption of the uptrend. Moving average studies are in a bull-mode position, highlighting a rising trend. Sights are on 136.45, 76.4% of the Dec 27 - May 31 downleg (cont). The contract is off Monday’s high, an extension down would allow an overbought condition to unwind. Support is at 133.34, 20-day EMA.
- Gilt futures traded higher last week, marking a confirmation of the uptrend that started May 29. Monday's high reinforces current conditions. Note that 99.23, the Jun 21 peak, has been cleared. Scope is seen for a climb towards 101.78, the 2.236 projection of the May 29 - Jun 4 - 10 price swing. The latest pullback is considered corrective, allowing an overbought trend condition to unwind. Support to watch is 98.99, the 20-day EMA.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.