Free Trial

(Z17) Giving Back Some Gains As 125.08...>

GILT TECHS
GILT TECHS: (Z17) Giving Back Some Gains As 125.08 Fibo Resistance Caps
*RES 4: 125.46 1% volatility band
*RES 3: 125.08 38.2% Fibo of 128.24-123.12
*RES 2: 124.99/00 Oct 18, Oct 19 highs
*RES 1: 124.75/83 Overnight opening gap
*PRICE: 124.39 @1512GMT
*SUP 1: 124.31 Intraday low
*SUP 2: 124.16 50% Fibo of 123.32-125.00
*SUP 3: 124.02/05 Oct 17 low, Oct 9 high
*SUP 4: 123.96 61.8% Fibo of 123.32-125.00
*COMMENTARY* The recovery is still struggling to surmount resistance from the
38.2% Fibo retrace level at 125.08. Highs of 124.99-125.00 achieved, before
succumbing to some overbought conditions. In this respect, a low of 124.31 seen
so far on the day. just ahead of the 50% Fibo retrace level at 124.16, as we
give back some of the gains seen from September's 123.12 base. Meanwhile,
today's opening gap between 124.75-124.83 provides immediate resistance.

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.