Free Trial

(Z1) Bearish Price Sequence

GILT TECHS
  • RES 4: 128.77 High Sep 3
  • RES 3: 128.42 High Sep 7
  • RES 2: 128.18 High Sep 10, 14 and key near-term resistance
  • RES 1: 127.69 High Sep 21
  • PRICE: 127.49 @ Close Sep 21
  • SUP 1: 126.83 2.00 proj of the Aug 20 - 26 - 31 price swing
  • SUP 2: 126.70 Low Jun 3 and a key support
  • SUP 3: 126.57 2.236 proj of the Aug 20 - 26 - 31 price swing
  • SUP 4: 126.41 2.382 proj of the Aug 20 - 26 - 31 price swing

Gilt futures are trading above recent lows. A bearish theme remains intact following last week's round of weakness. A price sequence of lower lows and lower highs highlights the current bearish theme and the focus is on 126.83 next, a Fibonacci projection ahead of 126.70, Jun 3 low (cont) and a key support Key near-term resistance has been defined at 128.18, Sep 10 and 14 high. A break of this level is required to ease the current bearish pressure.

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.