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(U4) Pierces Resistance

GILT TECHS
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income Bullets
  • RES 4: 98.89 High May 16 a key resistance
  • RES 3: 98.25 High May 21
  • RES 2: 98.12 High May 17
  • RES 1: 97.53 Intraday high
  • PRICE: 97.28 @ 10:21 BST Jun 4
  • SUP 1: 96.26/95.33 Low Jun 3 / Low May 29 and the bear trigger
  • SUP 2: 95.17 2.382 proj of the May 16 - 20- 21 price swing
  • SUP 3: 95.02 2.50 proj of the May 16 - 20- 21 price swing
  • SUP 4: 94.87 2.618 proj of the May 16 - 20- 21 price swing

Gilt futures have traded higher today as the contract extends the recovery 95.33, May 29 low. For now, gains are considered corrective. Last week’s sell-off resulted in a break of support at 95.87, the May 1 low. The clear break strengthens a bearish theme and signals scope for an extension towards 95.17 next, a Fibonacci projection. Resistance to watch is 97.44, May 23 high. It has been pierced, a clear break would open 98.12, the 21 high.

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  • RES 4: 98.89 High May 16 a key resistance
  • RES 3: 98.25 High May 21
  • RES 2: 98.12 High May 17
  • RES 1: 97.53 Intraday high
  • PRICE: 97.28 @ 10:21 BST Jun 4
  • SUP 1: 96.26/95.33 Low Jun 3 / Low May 29 and the bear trigger
  • SUP 2: 95.17 2.382 proj of the May 16 - 20- 21 price swing
  • SUP 3: 95.02 2.50 proj of the May 16 - 20- 21 price swing
  • SUP 4: 94.87 2.618 proj of the May 16 - 20- 21 price swing

Gilt futures have traded higher today as the contract extends the recovery 95.33, May 29 low. For now, gains are considered corrective. Last week’s sell-off resulted in a break of support at 95.87, the May 1 low. The clear break strengthens a bearish theme and signals scope for an extension towards 95.17 next, a Fibonacci projection. Resistance to watch is 97.44, May 23 high. It has been pierced, a clear break would open 98.12, the 21 high.