Free Trial

(Z17) Holding Above The 8 Week Rising....>

GILT TECHS
GILT TECHS: (Z17) Holding Above The 8 Week Rising Support Line
*RES 4: 128.43 1% volatility band
*RES 3: 128.17/21 8 week bull channel top, Jun 14 high
*RES 2: 127.83 Aug 29 high
*RES 1: 127.44/54 Sep 1, Aug 30 highs
*PRICE: 127.06 @1152GMT
*SUP 1: 126.82 Aug 25 low
*SUP 2: 126.67 8 week rising support line
*SUP 3: 126.49 Aug 23 low
*SUP 4: 126.24 Aug 16 low
*COMMENTARY* Tried to take advantage of last week's break above the 76.4% Fibo
retrace level at 127.22. A high of 127.83 already attained but the rally has
lost some impetus over the course of the last few days. With the loss of support
from the Aug 21 high at 127.03 this leaves the downside vulnerable to a deeper
correction of recent gains from the Aug 16 low at 126.24. In the interim,
127.44-127.54 becomes the bar to any fresh upside interest at present.

To read the full story

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.