Free Trial

(Z2) Key Resistance Intact - For Now

  • RES 4: 105.34 High Sep 22
  • RES 3: 102.45 High Sep 23
  • RES 2: 100.92 High Oct 4 and a key resistance
  • RES 1: 100.53 High Oct 20
  • PRICE: 96.86 @ Close Oct 21
  • SUP 1: 94.82/92.66 Low Oct 17 / 14
  • SUP 2: 90.99/90.38 Low Sep 28 / Low Oct 12 and the bear trigger
  • SUP 3: 90.00 Psychological round number
  • SUP 4: 88.94 2.764 proj of the May 12 - Jun 16 - Aug 2 swing (cont)

The primary trend direction in Gilt futures is down. However, the current corrective cycle remains in play. Price last week cleared traded above the 20-day EMA. A continuation higher would signal scope for a test of key resistance at 100.92, the Oct 4 high. The contract has pulled back from last Thursday's high. A move below 94.82, Oct 17 low, would suggest scope for a deeper retracement. 90.38, Oct 12 low, is the key support and bear trigger.

To read the full story



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.