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Price Signal Summary - Gilts Trade Through Last Week's Lows Exposing 100.00

OUTLOOK
  • In the FI space, Bund futures remain in a downtrend and attention is on initial support at 133.63, the Feb 22 low. This level has been pierced, a clear break would confirm a resumption of the current bear leg and pave the way for a move towards 132.60, the Feb 1 low. Moving average studies are in a bear-mode position highlighting the current market sentiment. Initial resistance to watch is at 135.57, the 20-day EMA.
  • Gilt futures are trading lower today and have breached last week’s 100.20 low (Feb 24). The move lower confirms a resumption of the current bearish cycle and exposes the 100.00 handle. A break of this level would open 99.93, the 1.00 projection of the recent Feb 20 - 23 - 24 price swing. On the upside, initial resistance is seen at today’s 100.98 intraday high.
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