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Price Signal Summary - Gilts Remain Closer To Their Recent Highs

OUTLOOK
  • In the FI space, Bund futures have traded lower today and breached support at 137.57, the Oct 27 low. The break of this level undermines a recent bullish theme and signals scope for a deeper retracement. Attention turns to 136.46, the Oct 25 low. Note that key support is still far off at 134.02, Oct 21 low. Key resistance is at the 50-day EMA, at 140.76. Clearance of the average would reinstate a bull theme.
  • Gilt futures continue to consolidate and the contract is trading closer to its recent highs. Price has recently cleared the 20-day EMA and a key resistance at 100.92, the Oct 4 high. The break strengthens short-term bullish conditions and opens 105.34 next, the Sep 23 high. Key support has been defined at 95.82, the Oct 21 low. Initial support is at 100.38, the Oct 25 low.
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