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(U0) Prices Break Down Further

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: 136.70 @ Close Aug 13
  • SUP 1: 136.54 Low Aug 12
  • SUP 2: 136.53 61.8 % Jun - Aug Rally
  • SUP 3: 136.39 23.6% Mar - May Rally
  • SUP 4: 135.32 200-dma (cont)

Gilts have now posted a losing streak of 8 consecutive lower lows, opening further the gap with contract highs printed just last week at 138.93. 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 Fib supports at 136.39/53.

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