Free Trial

(Z0) Bullish Rally Extends

GILT TECHS
  • RES 4: 137-51 High Aug 6
  • RES 3: 137.31 High Aug 10
  • RES 2: 137.05 76.4% retracement of the Aug 4 - 28 decline
  • RES 1: 136.71 High Sep 7
  • PRICE: 136.63 @ Close Sep 8
  • SUP 1: 135.73 Low Sep 8
  • SUP 2: 135.31 Low Sep 7 and key near-term support
  • SUP 3: 135.32 Low Sep 2
  • SUP 4: 134.32 Low Aug 28

A strong rally in Gilts yesterday saw futures trade through last week's high of 136.13. This confirms a resumption of the uptrend that started on Aug 28. The move higher also reinforces the significance of last week's breach of trendline resistance, drawn off the Aug 4 high, and strengthens the current bullish argument. Attention is on 137.05 next, a Fibonacci retracement. Key support has been defined at 135.31, Tuesday's low.

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.