Free Trial

(Z2) Uptrend Extends

GILT TECHS
  • RES 4: 109.47 High Aug 31 (cont)
  • RES 3: 108.59 61.8% of the Aug 2 - Oct 12 bear leg (cont)
  • RES 2: 108.00 Round number resistance
  • RES 1: 107.17 High Nov 17
  • PRICE: 106.10 @ Close Nov 17
  • SUP 1: 104.64 Low Nov 16
  • SUP 2: 102.74 50-day EMA
  • SUP 3: 101.60 Low Nov 9
  • SUP 4: 99.92 Low Nov 8 and key short-term support

Gilt futures remain in a short-term uptrend and the contract traded higher Thursday, extending the current uptrend. Short-term pullbacks are considered corrective. The recent break of 104.39, Oct 27 high, confirmed a bull flag formation on the daily chart, reinforcing bullish conditions. This has opened 108.59, a Fibonacci retracement on the continuation chart. Initial firm support lies at 102.74, the 50-day EMA.

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.