Free Trial

(Z2) Trend Remains Bearish

GILT TECHS
  • RES 4: 112.43 High Aug 22
  • RES 3: 111.54 High Aug 23
  • RES 2: 109.47/110.85 High Aug 31 / 26 and key near-term resistance
  • RES 1: 106..88/107.93 High Sep 6 / High Sep 1
  • PRICE: 105.20 @ Close Sep 13
  • SUP 1: 104.67 Low Sep 8
  • SUP 2: 103.87 2.00 projection of the Aug 22 - 24 - 26 price swing
  • SUP 3: 103.05 2.236 projection of the Aug 22 - 24 - 26 price swing
  • SUP 4: 102.54 2.382 projection of the Aug 22 - 24 - 26 price swing

Gilt futures are consolidating. The contract remains vulnerable and the bearish impulsive run that started early August suggests potential for an extension. The breach on Aug 30 of 108.94, Aug 24 low, confirmed a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Attention is on 103.87, a Fibonacci projection. Initial firm resistance is at 107.93, the Sep 1 high.

To read the full story

Close

Why MNI

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.