Free Trial

(Z17) 124.00-124.36 Resistance...........>

GILT TECHS: (Z17) 124.00-124.36 Resistance Prevents Recovery At Present
*RES 4: 125.21 Sep 15 high
*RES 3: 124.65 Sep 19 high
*RES 2: 124.36 Sep 20 high
*RES 1: 124.00 Sep 15 low, now resistance
*PRICE: 123.84 @1110GMT
*SUP 1: 123.36 Sep 21 low
*SUP 2: 123.17 Feb 2 low
*SUP 3: 122.60 Jan 26 low
*SUP 4: 122.36 2% volatility band
*COMMENTARY* Support from the 76.4% Fibo retrace level at 123.87 gave way, as
did the swing target at 123.60. A low on Thursday from 123.36, as we head
towards the Feb 2 low at 123.17. This the brake to the Jan 26 low at 122.60 and
the 2% volatility band at the lower 122.36 level. In the interim, look to the
Sep 15 low at 124.00 for initial resistance but likely requiring a move back
above Wednesday's 124.36 high before the upside gets interesting again. 

To read the full story



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.