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(Z2) Bullish Outlook

GILT TECHS
  • RES 4: 1107.00 Round number resistance
  • RES 3: 106.84 High Sep 8
  • RES 2: 106.25 High Sep 12
  • RES 1: 105.59 High Nov 10
  • PRICE: 104.15 @ Close Nov 11
  • SUP 1: 102.26/99.92 50-day EMA / Low Nov 8
  • SUP 2: 98.15 Low Oct 24
  • SUP 3: 95.82 Low Oct 21 and key near-term support
  • SUP 4: 94.82/92.66 Low Oct 17 / 14

Gilt futures remain in a short-term uptrend and Thursday’s gains reinforce bullish conditions. The contract has cleared resistance at 104.39, the Oct 27 high and confirmed a resumption of the uptrend. Note too that the move higher also confirmed the recent bull flag formation on the daily chart. Resistance at 105.34, the Nov 4 high has been pierced. A continuation higher would open 106.25, the Sep 12 high. Key support is at 99.92, the Nov 8 low.

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  • RES 4: 1107.00 Round number resistance
  • RES 3: 106.84 High Sep 8
  • RES 2: 106.25 High Sep 12
  • RES 1: 105.59 High Nov 10
  • PRICE: 104.15 @ Close Nov 11
  • SUP 1: 102.26/99.92 50-day EMA / Low Nov 8
  • SUP 2: 98.15 Low Oct 24
  • SUP 3: 95.82 Low Oct 21 and key near-term support
  • SUP 4: 94.82/92.66 Low Oct 17 / 14

Gilt futures remain in a short-term uptrend and Thursday’s gains reinforce bullish conditions. The contract has cleared resistance at 104.39, the Oct 27 high and confirmed a resumption of the uptrend. Note too that the move higher also confirmed the recent bull flag formation on the daily chart. Resistance at 105.34, the Nov 4 high has been pierced. A continuation higher would open 106.25, the Sep 12 high. Key support is at 99.92, the Nov 8 low.