Free Trial

(U17) Aug 1 High At 126.39 Offers Near...>

GILT TECHS
GILT TECHS: (U17) Aug 1 High At 126.39 Offers Near Term Support
*RES 4: 127.53/54 Jun 16 low, 1% vol band
*RES 3: 127.48 61.8% Fibo of 129.19-124.71
*RES 2: 127.31 1.618 swing of 126.67-125.63
*RES 1: 126.95/03 50% Fibo of 129.19-124.71, Aug 4 high
*PRICE: 126.71 @1049GMT
*SUP 1: 126.39 Aug 1 high, now support
*SUP 2: 125.90/10 Congestion area Jul 26-Aug 2
*SUP 3: 125.63/66 Jul 25, Aug 1 lows
*SUP 4: 125.46/56 61.8% Fibo of 124.71-126.67, Jul 10 high
*COMMENTARY* The strength found on Thursday to rise through 126.46-126.67
resistance. This should now allow a run at the 50% Fibo retrace level at 126.95
with the added chance of a further 127.31 rise, if the swing target of the
126.67-125.63 fall reaches its maximum potential. As a result, support moves up
initially to last Tuesday's 126.39 high, with the lower 126.10-125.90 area
currently of more consequence below.

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.