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Yields Remain In An Uptrend

FI TECHS

The FI space continues to trend lower with Bunds, Gilts and Treasury futures through important support levels. Below we highlight the next key supports and potential price objectives.

  • Bund futures (H1) have cleared support at 177.01, Dec 23 low and 176.63, Dec 2 low. The focus is on:
    • SUP 1: 176.19 1.236 proj of the Dec 11 - 23 sell-off from Jan 4 high
    • SUP 2: 175.94 1.382 proj of the Dec 11 - 23 sell-off from Jan 4 high
    • SUP 3: 175.84 Low Nov 11 and the next major support
  • Gilts (H1) have breached 134.01 extending the sell-off from last week's 135.96 high. The next objectives are:
    • SUP 1: 133.63 Low Dec 4
    • SUP 2: 133.52 Low Dec 2
    • SUP 3: 133.22 1.382 proj of Dec 11 - 24 sell-off from Jan 4 high
  • Treasuries (H1) last week cleared 136-26+, Nov 11 low to confirm a resumption of the downtrend that began in August 2020. Attention is on:
    • SUP 1: 136-04+ 1.00 proj of the Nov 5 - 11 sell-off from Nov 30 high
    • SUP 2: 136-00 Round number support
    • SUP 3: 135-25+ 76.4% retracement of the Mar - Aug rally last year (cont)
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