Free Trial

(U0) Strong Correction *RES 4: 137.36....>

GILT TECHS
GILT TECHS: (U0) Strong Correction
*RES 4: 137.36 High Jun 1
*RES 3: 136.89 61.8% retracement of the May 22 - Jun 5 sell-off
*RES 2: 136.76 High Jun 3
*RES 1: 136.54 High Jun 10
*PRICE: 136.38 @ Close Jun 10
*SUP 1: 135.49 Low Jun 9
*SUP 2: 135.05 Low Jun 5
*SUP 3: 134.89 2.236 projection of May 22 - 27 swing from May 29 high
*SUP 4: 134.72 2.382 projection of May 22 - 27 swing from May 29 high
Gilts rallied sharply higher yesterday and remain above 135.05, May 5 low. For
now recent gains are still being considered a correction. A bearish theme
follows the recent reversal off 138.02, May 22 high. Furthermore, the break last
Thursday of 136.09, May 19 low confirmed a bearish cycle suggesting scope for an
extension lower. The bear trigger is 135.05, a break would open 134.89 and
134.72, both Fibonacci projection levels. Next resistance is 136.76.

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.