Free Trial

(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.

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.