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Price Signal Summary - Recent Gains In Gilts Appear To Be A Correction

OUTLOOK
  • In the FI space, Bund futures continue to trade closer to their recent highs. A bear cycle remains intact and recent gains are considered corrective. Firm support to watch is 127.18, the Oct 23 low. A break would be a bearish development and expose the bear trigger at 126.62. On the upside, resistance is at 129.39, the 50-day EMA. It has been tested, a breach of it would instead signal scope for a stronger recovery and expose key resistance at 130.20, the Oct 12 high.
  • Gilt futures traded higher Tuesday, before reversing lower. A broader bearish theme remains intact and recent gains appear to be a correction. For bears, price has recently traded through key support at 91.47, the Aug 17 low. This confirmed a resumption of the downtrend and signals scope for 90.38, the Oct 12 2022 low (cont) and a major support. Initial resistance is at 93.82, 61.8% of the Oct 12 - 23 bear leg. The 76.4% level is at 94.52.
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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