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Price Signal Summary - Recovery In Gilts Exposes Resistance At The 20-Day EMA

OUTLOOK
  • In the FI space, Bund futures Bund futures reversed course Tuesday and the contract traded sharply higher moving above resistance at the 20-day EMA - at 134.83. A continuation higher would signal scope for gains to 135.85, 38.2% retracement of the Mar 20 - Apr 19 bear leg and the 136.00 handle. On the downside, key short-term support lies at the Apr 19 low of 133.10. This is the bear trigger and a break would reinstate the recent bearish theme.
  • Gilt futures traded higher Tuesday to extend the recent recovery. The move higher is considered corrective - for now. Attention is on resistance at the 20-day EMA that intersects at 102.29. A clear break of this average would signal scope for a stronger short-term recovery and open 102.63, 38.2% retracement of the Mar 20 - Apr 19 bear leg. Key short-term support has been defined at 99.73, a break would resume the downtrend.
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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