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Price Signal Summary - Gilts Retain A Bullish Theme

OUTLOOK
  • In the FI space, Bund futures remain in an uptrend and the contract traded higher Wednesday to confirm a resumption of the bull cycle. This maintains a bullish price sequence of higher highs and higher lows. Furthermore, price has breached all retracement points of the Dec 7 - Jan 3 bear leg, reinforcing current bullish conditions. Sights are on 141.70 next, the Dec 13 high. Initial firm support is at 137.53, the Jan 16 low.
  • Gilt futures remain in an uptrend and the contract traded higher Wednesday. This confirms a resumption of the short-term uptrend and has resulted in a break of 105.20, the 76.4% retracement of the Nov 24 - Dec 28 bear leg. The break opens 107.06, the Nov 24 high and a key resistance. On the downside, initial firm support has been defined at 103.21, the Jan 17 low.
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