Free Trial

(Z17) 'Gravestone Doji' Candle Close.....>

GILT TECHS
GILT TECHS: (Z17) 'Gravestone Doji' Candle Close Predicts Fall
*RES 4: 125.63 Nov 9 high
*RES 3: 125.41 Nov 8 low, hourly resistance
*RES 2: 125.25 Hourly recovery high Nov 9
*RES 1: 125.04/10 Nov 9 low, hourly resistance
*PRICE: 124.75 @1020GMT
*SUP 1: 124.52/54 50% Fibo of 123.17-125.87, Oct 31 high
*SUP 2: 124.20 Hourly basing area Oct 30-31, 61.8% Fibo
*SUP 3: 123.81/84 76.4% Fibo of 123.17-125.87, Nov 1 low
*SUP 4: 123.66 1% volatility band
*COMMENTARY* Rally reached 125.87 on Wednesday, just shy of a test to the next
resistance area of note at 125.97. This a 50% Fibo retrace level as well as the
upper 1% volatility band at the time. As a result, we have seen a pullback which
has now lost 125.15-124.95 support. Loss here introduces further caution,
especially given the 'Gravestone Doji' candle close on the daily chart
Wednesday. Nearest resistance 125-04-125.25.

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.