Free Trial

(U4) Bearish Outlook

GILT TECHS
  • RES 4: 98.89 High May 16 and a key resistance
  • RES 3: 98.25 High May
  • RES 2: 98.12 High May 17
  • RES 1: 97.44 High May 23
  • PRICE: 96.77 @ Close May 28
  • SUP 1: 96.60 Low May 24
  • SUP 2: 96.26 1.50 proj of the May 16 - 20- 21 price swing
  • SUP 3: 96.00 Round number support
  • SUP 4: 95.87 Low May 1

Gilt futures remain soft following the recent strong sell-off. The contract has traded through the 97.00 handle and a continuation lower would suggest scope for an extension towards 96.00, and a support around 95.87, the May 1 low. Initial resistance to watch is 97.44, the May 23 high. A break of this level would allow for a stronger near-term recovery, potentially towards resistance at 98.12, the May 21 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.