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(Z2) Bullish Extension

GILT TECHS
  • RES 4: 110.62 0.764 proj of the Oct 12 - 27 - Nov 8 price swing
  • RES 3: 109.89 Low Jun 16 (cont)
  • RES 2: 109.47 High Aug 31 (cont)
  • RES 1: 109.00 Round number resistance
  • PRICE: 107.92 @ Close Nov 24
  • SUP 1: 106.51/.105.00 Low Nov 23 / 18
  • SUP 2: 104.64 Low Nov 16
  • SUP 3: 103.51 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 109.47 next, the Aug 31 low on the continuation chart. Initial firm support lies at 105.00.

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