Free Trial

(Z0) Looking For A Test Of Resistance

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: 136.78 High Sep 9 and the bull trigger
  • PRICE: 136.57 @ Close Sep 11
  • SUP 1: 135.70 Low Sep 10 and key near-term support
  • SUP 2: 135.31 Low Sep 7
  • SUP 3: 135.32 Low Sep 2
  • SUP 4: 134.32 Low Aug 28 and major support

Gilts remain below recent highs however the outlook remains bullish. Last reversal off 136.78, Sep 9 high appears to be a correction and strong support has been defined at 135.70, Sep 10 low. Attention is on the key resistance at 136.78 where a break would trigger a resumption of gains and open 137.05, a Fibonacci retracement. On the downside, weakness below support at 135.70 would instead highlight a potential threat bearish threat.

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.