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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: 124.57/125.27 High Oct 19 / High Oct 14 and key resistance
  • PRICE: 123.54 @ Close Oct 21
  • SUP 1: 123.43 Low Oct 21
  • 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 bearish and the contract traded to a fresh trend low yesterday of 123.43, confirming a resumption of the downtrend. With momentum and moving average conditions still pointing south, further bearish pressure is likely and attention is on 123.16 next, the Feb 27, 2019 low. A break of the 123.00 handle is also likely near-term. Key near-term resistance has been defined at 125.27, the Oct 14 high.