November 10, 2022 06:17 GMT
(Z2) Trend Needle Points North
GILT TECHS
- RES 4: 106.84 High Sep 8
- RES 3: 106.25 High Sep 12
- RES 2: 105.34 High Sep 22 and a key resistance
- RES 1: 104.39 High Nov 4 / High Oct 27 and the bull trigger
- PRICE: 103.31 @ Close Nov 9
- SUP 1: 99.92 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 yesterday’s gains reinforce current bullish conditions. The latest shallow retracement appears to be a bull flag formation, reinforcing the uptrend. Recent gains resulted in a break of key resistance at 100.92, the Oct 4 high. This strengthened bullish conditions and has opened 105.34 next, the Sep 23 high. Key support has been defined at 95.82, the Oct 21 low. Initial support lies at 99.92, the Nov 8 low.
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