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Free AccessMNI: PBOC Net Drains CNY216 Bln via OMO Monday
(U17) Rally Falters On Approach To.......>
GILT TECHS: (U17) Rally Falters On Approach To 128.87 Swing Target
*RES 4: 129.68 May 30 high
*RES 3: 129.56 Median line off Mar & May lows
*RES 2: 129.19/28 Jun 14 high, 1% volatility band
*RES 1: 128.82/87 Aug 29 high, 1.618 swing of 128.24-127.22
*PRICE: 128.50 @1122GMT
*SUP 1: 128.24 Aug 11 high, now support
*SUP 2: 128.05/10 Aug 21, Aug 23 highs, now support
*SUP 3: 127.82 Aug 25 low
*SUP 4: 127.49 Aug 22 low
*COMMENTARY* A fresh upside surge has now eclipsed the month's previous 128.24
high and also removed the threat from the potentially bearish 'Doji' candle
close on the daily chart on Aug 11. This now sees the swing target at 128.87 as
the next viable upside objective, ahead of the Jun 14 high and upper 1%
volatility band between 129.19-129.28. Meanwhile, support comes initially from
that 128.24 high and then 128.05-10.
To read the full story
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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.