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Price Signal Summary - Gilts Remain Vulnerable

OUTLOOK
  • In the FI space, Bund futures remain in a downtrend. The contract traded sharply lower last week before finding some support on Friday. Gains are considered corrective. The recent breach of support at 129.72, Aug 14 low and a key bear trigger, reinforced a bearish theme and confirmed a resumption of the primary downtrend. Sights are on 126.54 next, 1.764 projection of the Jul 19 - Aug 4 - Aug 8 price swing. Initial firm resistance is at 129.50, the 20-day EMA.
  • Gilt futures remain bearish and yesterday’s move lower reinforces this condition. The contract has recently breached 93.36, the Sep 6 low and a key support. Furthermore, 92.71, 76.4% of Aug 17 - Sep 20 bull run, has been pierced. Clearance of this level would expose key support at 91.47, the Aug 17 low. On the upside, key short-term resistance has been defined at 96.71, the Sep 20 high. Initial firm resistance is at 94.74, the Sep 28 high.
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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