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(Z0) Bullish Focus

GILT TECHS
  • RES 4: 137.04 High Sep 21 and a key resistance
  • RES 3: 136.97 High Oct 16 and the bull trigger
  • RES 2: 136.38 Low Oct 20 and a gap high on the daily chart
  • RES 1: 136.37 High Oct 29
  • PRICE: 136.17 @ Close Oct 29
  • SUP 1: 135.97 Low Oct 29
  • SUP 2: 135.34 Low Oct 27
  • SUP 3: 135.04 Low Oct 23 and the near-term bear trigger
  • SUP 4: 134.59 Low Sep 1

Strong gains Tuesday in Gilt futures provided early evidence of a reversal. The contract has pushed higher since although with less of an impulsive drive. The outlook nevertheless remains bullish and futures are holding onto recent gains. Attention is on 136.38, Oct 20 low where a print would fill a gap in the chart. This would also expose key resistance at 136.97, Oct 16 high. Firm support lies at 135.34, Oct 27 low.

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