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Price Signal Summary - Trend Signals In Gilts Point South

OUTLOOK
  • In the FI space, a bear threat in Bund futures remains present, despite Friday’s bounce which appears to be a correction. A resumption of weakness would open 131.23, Feb 29 low. Clearance of this level would confirm a resumption of the downtrend that started late last year and open 130.60, the 1.50 projection of the Dec 27 - Feb 29 - Mar 8 price swing. MA studies are in a bear-mode position, highlighting a downtrend. On the upside, a break of 133.48, Mar 27 high, would reinstate a bullish theme.
  • A bear threat in Gilt futures remains present. Support at 98.05, the Mar 15 low, has recently been cleared. Note too that 97.67, 76.4% of the Feb 29 - Mar 12 rally, has also been breached and key support at 96.83, the Feb 29 low, has been pierced. A continuation lower would open 96.57, the 1.50 projection of the Mar 12 - 15 - 22 price swing. Initial resistance is at 98.60, the 20-day EMA.
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