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GILT TECHS
  • RES 4: 139.70 Low Mar 3 (cont)
  • RES 3: 139.05 High Mar 12 (cont)
  • RES 2: 138.99 High May 22 (cont)
  • RES 1: 138.93 High Aug 4
  • PRICE: 137.24 @ Close Aug 11
  • SUP 1: 137.17 Low Aug 11
  • SUP 2: 136.95 Low Jul 1
  • SUP 3: 136.39 23.6% Mar - May Rally
  • SUP 4: 135.27 200-dma (cont)

Having struck a new contract high at 138.93 last week, Gilt futures have now printed six consecutive sessions of lower lows. This has weakened the previously resolutely bullish outlook, with prices now below both the 50- and 100-dmas. The close below 137.51 is a bearish development, opening a further leg lower to 136.95.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com