Free Trial

(U18) Highly Overbought Near Term,.......>

GILT TECHS
GILT TECHS: (U18) Highly Overbought Near Term, Watching 122.90 Support
*RES 4: 124.14 1% volatility band
*RES 3: 123.88 76.4% Fibo of 124.67-121.33
*RES 2: 123.75 1.618 swing of 123.19-122.28
*RES 1: 123.47/52 Jun 28, May 31 highs
*PRICE: 122.94 @0745GMT 
*SUP 1: 122.90 Hourly support
*SUP 2: 122.73 Hourly base Jun 26
*SUP 3: 122.51/55 Jun 8 high, Jun 22 low
*SUP 4: 122.25/28 Jun 13 high, Jun 21 low
*COMMENTARY* Thursday saw a move above the 61.8% Fibo retrace level at 123.39. A
high of 123.47 seen, as we pushed into very highly overbought near term
conditions. The May 31 high at 123.52 is the next obvious resistance, ahead of
the swing target at 123.75 and the 76.4% Fibo retrace level at 123.88. These
however may have to remain on hold, if support from 122.90 gives way. This would
open the door to 122.73 and the key 122.55-122.51 area.

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.