Free Trial

(U18) 122.67 Support Remains Key *RES....>

GILT TECHS
GILT TECHS: (U18) 122.67 Support Remains Key
*RES 4: 125.69 Monthly High Dec 15 
*RES 3: 125.42 High Dec 27 
*RES 2: 124.67 High May 29 
*RES 1: 123.93 Hourly resistance May 29
*PREVIOUS CLOSE: 123.43
*SUP 1: 122.81 Low May 29 
*SUP 2: 122.67 High May 28 now support 
*SUP 3: 121.86 High May 4 now support 
*SUP 4: 121.32 21-DMA
*COMMENTARY: Aggressive gains lacked follow through Tuesday which is less than
ideal for bulls given very O/B daily studies. Bulls focus their attention on the
125.42-69 region where Dec highs are noted. The 122.67 support is now key. Bears
now need a close below this level to ease bullish pressure and below 121.86 to
shift focus back to 120.95-121.32 where 21, 55 & 100-DMAs are situated. Bulls
need a close above 123.93 to add support to their case.

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.