Free Trial

(U18) 122.51 Resistance Key Today *RES...>

GILT TECHS
GILT TECHS: (U18) 122.51 Resistance Key Today
*RES 4: 123.64 High May 30 
*RES 3: 123.17 High June 1 
*RES 2: 122.51 High June 8 
*RES 1: 122.25 High June 13
*PREVIOUS CLOSE: 122.16
*SUP 1: 121.68 Hourly support June 12 
*SUP 2: 121.41 55-DMA 
*SUP 3: 120.94 100-DMA 
*SUP 4: 119.95 Monthly Low Apr 23
*COMMENTARY: A marginal dip below the 55-DMA lacked follow through Tuesday with
hesitation around the 55-DMA less than ideal. The 100-DMA is key support this
week. Bears need a close below the 100-DMA to confirm a break of the 55-DMA and
to confirm immediate focus on 119.95 Apr lows. Bulls need a close above 122.51
to add support to the case for the break of 123.64 needed to return focus to
124.67.

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.