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(U3) Clears Key Support

  • RES 4: 96.19/81 High Jul 31 / 27
  • RES 3: 95.82 High Aug 10 and key short-term resistance
  • RES 2: 94.51 20-day EMA
  • RES 1: 93.05/93.70 High Aug 16 / Low Aug 4
  • PRICE: 91.94 @ 08:13 BST Aug 17
  • SUP 1: 91.61 Intraday low
  • SUP 2: 90.70 1.236 proj of the Jul 19 - Aug 4 - Aug 10 price swing
  • SUP 3: 90.38 Low Oct 12 2022 (cont) and a major support
  • SUP 4: 90.10 1.382 proj of the Jul 19 - Aug 4 - Aug 10 price swing

A bearish theme in Gilt futures remains intact. The contract has started off today’s session on a weaker note, clearing support 92.09, the Jul 7 low. This represents an important break and confirms a resumption of the medium-term downtrend. Scope is seen for a move towards the major support at 90.38, the Oct 12, 2022 low on the continuation chart. On the upside, initial resistance is at 93.05, yesterday’s high.

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