Free Trial

(U3) Testing Key Support

GILT TECHS
  • RES 4: 97.64 High Jun 1 and the reversal trigger
  • RES 3: 96.63/97.06 High Jun 9 / 6
  • RES 2: 96.31 High Jun 12
  • RES 1: 95.30High Jun 15
  • PRICE: 94.85 @ Close Jun 15
  • SUP 1: 94.21/08 May 26 and the bear trigger / Low Jun 15
  • SUP 2: 94.00 Round number support
  • SUP 3: 93.45 1.618 proj of the Feb 2 - 28 - Mar 20 price swing (cont)
  • SUP 4: 92.19 1.764 proj of the Feb 2 - 28 - Mar 20 price swing (cont)

Gilt futures remain bearish and this week’s move lower reinforces current conditions. The contract has pierced support at 94.21, the May 26 low and bear trigger. A clear break of this level would confirm a resumption of the downtrend and open the 94.00 handle initially. Moving average studies are in a bear mode position reflecting current sentiment. Initial firm resistance is at 96.63, the Jun 9 high.

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.