Free Trial

(Z2) Bullish Extension

GILT TECHS
  • RES 4: 109.89 Low Jun 16 (cont)
  • RES 3: 109.47 High Aug 31 (cont)
  • RES 2: 108.59 61.8% of the Aug 2 - Oct 12 bear leg (cont)
  • RES 1: 108.36 High Nov 23
  • PRICE: 106.71 @ Close Nov 22
  • SUP 1: 106.51/.105.00 Low Nov 23 / 18
  • SUP 2: 104.64 Low Nov 16
  • SUP 3: 103.33 50-day EMA
  • SUP 4: 101.60 Low Nov 9

Short-term trend conditions in Gilt futures remain bullish and the contract resumed its uptrend yesterday. Fresh cycle highs maintain the current bullish price sequence of higher highs and higher lows and moving averages appear to be highlighting a bull mode set-up. If confirmed this would reinforce the uptrend. The focus is on a climb towards 108.59 next, a Fibonacci retracement on the continuation chart. Initial firm support lies at 105.00.

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.