Free Trial

(Z17) Begins Correction Of Gains From....>

GILT TECHS
GILT TECHS: (Z17) Begins Correction Of Gains From Early July
*RES 4: 127.40 Congestion area Sep 5-Sep 6
*RES 3: 127.09/18 Overnight gap
*RES 2: 126.84/88 Sep 1, Sep 5 lows, now resistance
*RES 1: 126.55 Hourly resistance
*PRICE: 126.16 @1142GMT
*SUP 1: 125.90/03 1% volatility band, intraday low
*SUP 2: 125.63 61.8% Fibo of 124.01-128.24
*SUP 3: 125.01/05 61.8% Fibo of 124.01-128.24, Aug 2 low
*SUP 4: 124.64 2% volatility band
*COMMENTARY* A high of 128.24 attained last week but the rally lost some impetus
and has begun a correction of gains from the July low at 124.01. This has gained
momentum, with Tuesday's loss firstly of the Aug 25 and Sep 1 lows at 126.84 and
then from between 126.62-126.24. The lower 1% volatility band at 125.90 is now
the brake to an even deeper decline. Resistance 126.55 and then from
126.84-126.88, above the latter would gain some respite.

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.