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Price Signal Summary - Key Support In Gilts Remains Exposed

OUTLOOK
  • In the FI space, Bund futures trend conditions remain bullish and the recent pullback still appears to be a correction. A stronger resumption of gains would open 137.55, the 61.8% retracement of the Mar 20 - Apr 19 bear leg. Clearance of this level would expose 138.09, the Apr 6 high. On the downside, the next support to watch lies at 134.35, the May 2 low. A break of this level would expose key support at 133.10 instead, the Apr 19 low.
  • Gilt futures lower Tuesday and breached support at 100.37, the May 2 low. The move exposes key support at 99.73, the Apr 19 low. Clearance of this level would cancel recent bullish developments and highlight a resumption of the downtrend that started on Mar 20. This would open 99.20, the Feb 28 low. On the upside, the contract needs to clear 102.46, the May 3 high, to reinstate a bullish theme.
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Fixed Income Technical AnalysisHomepagemarkets-real-timeCommoditiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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