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(Z0) Probes 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: 136.86 High Sep 14
  • PRICE: 136.40 @ Close Sep 14
  • 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 pushed higher yesterday and registered a print above resistance at 136.78, Sep 9 high before finding resistance. Despite the pullback, the outlook remains bullish. Strong support has been defined at 135.70, Sep 10 low. Attention is on further gains with the focus on 137.05, a Fibonacci retracement. On the downside, weakness below 135.70 would instead highlight a potential bearish threat.

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