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Expiries for Nov29 NY cut 1000ET (Source DTCC)

BOND SUMMARY

EGB/Gilt: Markets Reverse Course Following Friday Risk-Off

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  • RES 4: 126.84 Low Sep 17
  • RES 3: 126.44 High Sep 24
  • RES 2: 125.72 High Oct 1
  • RES 1: 125.27 High Oct 14 and key near-term resistance
  • PRICE: 124.09 @ Close Oct 20
  • SUP 1: 123.83/123.44 Low Oct 20 / Low Oct 11 and the bear trigger
  • SUP 2: 123.16 Low Feb 27, 2019 (cont)
  • SUP 3: 122.75 2.236 proj of the Aug 31 - Sep 17 - 21 price swing
  • SUP 4: 122.15 Low Jan 18, 2019 (cont)

Gilt futures remain above recent lows. Recent gains are considered corrective and the bounce has allowed the recent oversold condition to unwind somewhat. Key near-term resistance has been defined at 125.27, the Oct 14 high where a break is required to signal scope for a stronger recovery. The path of least resistance remains down and a resumption of weakness would refocus attention on last week's low of 123.44, the bear trigger.