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(U1) Tred Conditions Remain Bullish

GILT TECHS
  • RES 4: 130.62 High Feb 22 (cont)
  • RES 3: 130.30 2.00 proj of the May 13 - 26 - Jun 3 price swing
  • RES 2: 129.99 High Feb 24 (cont)
  • RES 1: 129.49/92 High Jul 15 / High Jul 8 and the bull trigger
  • PRICE: 129.12 @ Close Jul 16
  • SUP 1: 128.54/39 Low Jul 14 / High Jun 11 and recent breakout level
  • SUP 2: 128.03 Jul 6
  • SUP 3: 127.25 Low Jun 10
  • SUP 4: 126.91 Low Jun 17 and key support

Gilt futures remain below recent highs. Despite the recent pullback, a bullish outlook appears intact. Gains earlier this month resulted in a breach of key short-term resistance at 128.39, Jun 11 high. The break highlights a resumption of the uptrend from May 13 and maintains a bullish price sequence of higher highs and higher lows. MA studies support a bullish outlook and 129.92 is the bull trigger, Jul 8 high. Firm support is at 128.54/39.

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