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(U1) Bullish Focus

GILTS
  • RES 4: 128.92 1.236 proj of the May 13 - 26 - Jun 3 price swing
  • RES 3: 128.50 1.00 proj of the May 13 - 26 - Jun 3 price swing
  • RES 2: 128.39 High Jun 11 and the bull trigger
  • RES 1: 127.87 High Jun 16
  • PRICE: 127.69 @ Close Jun 18
  • SUP 1: 126.91 Low Jun 10
  • SUP 2: 126.70 Low Jun 3 and key near-term support
  • SUP 3: 126.55 Low May 21
  • SUP 4: 126.12 Low May 19

On Jun 9 Gilt futures cleared 127.74/85, Apr 20 and May 7, 26 highs respectively and a key resistance zone. The move through 127.74 confirmed a bullish price sequence of higher highs and higher lows and this positive price condition remains intact. Last week's pullback is considered corrective and price has remained above key short-term trend support at 126.70, Jun 3 low. Further gains would open 128.39. A break of 126.70 would be bearish.

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