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(Z0) Approaching Key Resistance

GILT TECHS
  • RES 4: 137.44 High Aug 7
  • RES 3: 137.14 0.764 proj of Aug 28 - Sep 21 rally from Oct 7 low
  • RES 2: 137.04 High Sep 21 and a key resistance
  • RES 1: 136.97 Intraday high
  • PRICE: 136.79 @ 12:20 BST Oct 16
  • SUP 1: 136.27 Low Oct 15
  • SUP 2: 135.50 Low Oct 14
  • SUP 3: 135.06 Low Oct 7 and the bear trigger
  • SUP 4: 134.96 76.4% retracement of the Aug 28 - Sep 28 rally

Gilts spiked earlier to register a high print of 136.97, above yesterday's high. Today's gains confirm an extension of this week's strong rally. The contract is approaching the next key resistance at 137.04, Sep 21 high. Clearance of this hurdle would reinforce this week's bullish reversal and open 137.14 and potentially 137.78 further out, both Fibonacci projection levels. Initial support lies at 136.27, yesterday's low.

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