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Price Signal Summary - Gilts Remain In Bull Mode

OUTLOOK
  • In the FI space, Bund futures remain in an uptrend following last week’s gains and extension from the Oct 21 low of 134.02. Short-term gains are considered corrective. However, with the bullish cycle in play and following the break of 138.52, Oct 14 high, scope is seen for a continuation higher. The focus is on the 50-day EMA, at 140.93 - a key resistance.
  • Support to watch is 137.57, Thursday’s low Gilt futures maintain a bullish theme following last week’s extension higher. Price has recently cleared the 20-day EMA and the continuation higher last week resulted in a break of key resistance at 100.92, the Oct 4 high. The breach strengthens 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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