Free Trial

(Z0) Sharp Reversal

GILT TECHS
  • RES 4: 136.53 61.8% retracement of the Aug 4 - 28 decline
  • RES 3: 136.43 Aug 24 high
  • RES 2: 136.20 50-day EMA
  • RES 1: 136.02 High Sep 2
  • PRICE: 135.90 @ Close Sep 2
  • SUP 1: 135.32 Low Sep 2
  • SUP 2: 134.32 Low Aug 28
  • SUP 3: 134.11 1.000 proj of the Aug 4 - 13 sell-off from Aug 24 high
  • SUP 4: 134.00 Round number support

A sharp rally in Gilts this week has seen an equally sharp downtrend reverse direction. Yesterday saw price trade through trendline resistance at 135.86, drawn off the Aug 4 high confirming for now, a shift in market sentiment. Follow through would pave the way for gains to 136.20, the 50-day EMA and 136.43, Aug 24 high. Yesterday's low of 135.32 marks the initial support. Key support has been defined at 134.32, Aug 28 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.