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(Z2) Clears Key Short-Term Resistance

GILT TECHS
  • RES 4: 106.25 High Sep 12
  • RES 3: 105.34 High Sep 22
  • RES 2: 103.60 Low Sep 20
  • RES 1: 102.45 High Sep 23
  • PRICE: 102.11 @ 14:49 BST Oct 25
  • SUP 1: 97.80/95.82 20-day EMA / Low Oct 21
  • SUP 2: 94.82/92.66 Low Oct 17 / 14
  • SUP 3: 90.99/90.38 Low Sep 28 / Low Oct 12 and the bear trigger
  • SUP 4: 90.00 Psychological round number

Gilt futures have traded higher again today, confirming an extension of the current bull cycle. Price has recently cleared the 20-day EMA and the continuation higher today has resulted in a break of key resistance at 100.92, the Oct 4 high. The breach of this level strengthens bullish conditions and opens 102.45 next, the Sep 23 high. Initial firm support has been defined at 95.82, the Oct 21 low.

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