Free Trial

Resend - (H1) Bears Still In Charge

GILT TECHS
  • RES 4: 133.55 Low Dec 1 and a recent breakout level
  • RES 3: 132.67 High Feb 11
  • RES 2: 131.73 Low Feb 8 and today's breakout level
  • RES 1: 131.49 High Feb 16
  • PRICE: 130.84 @ Close Feb 16
  • SUP 1: 130.72 Low Feb 16
  • SUP 2: 130.49 2.764 proj of the Dec 11 - 24 sell-off from Jan 4 high
  • SUP 3: 130.18 Low Mar 19, 2020 (cont)
  • SUP 4: 130.00 Psychological round number

Gilt futures traded heavy again yesterday extending this week's bearish start - the contract gapped lower at the open Monday. The move to fresh lows reinforces the bearish theme and once again confirms a resumption of the underlying downtrend that started early August last year. Further weakness is likely near-term, the focus is on 130.49 next, a Fibonacci projection. On the upside, initial resistance is at 131.49, Feb 16 high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.