Free Trial

(Z2) Bearish Extension

GILT TECHS
  • RES 4: 107.93 High Sep 1
  • RES 3: 106.73 20-day EMA
  • RES 2: 106.84 High Sep 8 and a key near-term resistance
  • RES 1: 105.34/77 Intraday high / High Sep 15
  • PRICE: 102.50 @ 14:08 BST Sep 22
  • SUP 1: 102.13 2.50 projection of the Aug 22 - 24 - 26 price swing
  • SUP 2: 101.71 2.618projection of the Aug 22 - 24 - 26 price swing
  • SUP 3: 100.78 Low Feb 1995 (cont)
  • SUP 4: 100.00 Psychological round number

Gilt futures have traded lower and delivered a fresh cycle low once again today. The break lower maintains the bearish price sequence of lower lows and lower highs. Note too that corrections are proving to be short-lived and shallow - this clearly highlights the current bearish market sentiment. The focus is on 102.13, a Fibonacci projection. Initial firm resistance is today’s high of 105.34.

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.