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(Z0) Softer Following Volatile Week

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: 136.69 High Nov 5
  • RES 1: 136.24 High Nov 6
  • PRICE: 135.49 @ Close Nov 6
  • SUP 1: 135.34 Low Oct 27
  • SUP 2: 135.04 Low Oct 23 and the near-term bear trigger
  • SUP 3: 134.99 1.00 proj of Sep 21 - Oct 7 downleg from Oct 16 high
  • SUP 4: 134.59 Low Sep 1

Gilts traded in a volatile manner last week and ended the week on a softer note. Attention remains on the key near-term support 135.34, Oct 27 low. A break of this level would undermine the recent bullish tone and instead highlight scope for a deeper pullback ahead of support at 135.04, Oct 23 low. A break of this latter level would expose 134.32, Aug 28 low. On the upside, key short-term resistance has been defined at 136.69, Nov 5 high.

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