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Price Signal Summary - Key Support In Gilts Remains Exposed

OUTLOOK
  • In the FI space, Bund futures remain in a downtrend. The contract traded sharply lower last week and has traded to a fresh cycle low today. The recent breach of 129.72, Aug 14 low and a key bear trigger, reinforced a bearish theme and confirmed a resumption of the primary downtrend. Today’s extension maintains the price sequence of lower lows and lower highs. Sights are on 126.54 next, the 1.764 projection of the Jul 19 - Aug 4 - Aug 8 price swing. Key short-term resistance is at 129.29, 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. The break exposes key support at 91.47, the Aug 17 low. Initial resistance is at 93.18, the Oct 3 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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