Free Trial

(U3) Trend Needle Points North

  • RES 4: 98.80 High May 22
  • RES 3: 98.00 Round number resistance
  • RES 2: 97.91 38.2% retracement of the Mar-Jul downleg (cont)
  • RES 1: 97.84 High Jul 19 and the bull trigger
  • PRICE: 96.80 @ Close Jul 24
  • SUP 1: 96.11 Low Jul 21
  • SUP 2: 95.20 Low Jul 18
  • SUP 3: 94.58 Low Jul 17 and a key near-term support
  • SUP 4: 94.20 Low Jul 13

Gilt futures maintain a bullish theme and the contract is trading closer to its recent highs. Last week’s print above resistance at 97.00, the Jun 23 high, and clearance of the 50-dma on the continuation chart, reinforces current positive conditions. A resumption of the uptrend would signal scope for gains towards 99.71, 50.0% of the Mar-Jul downleg (cont). Initial firm support to watch lies at 94.58, the Jul 17 low.

To read the full story



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.