November 15, 2022 06:16 GMT
(Z2) Uptrend Remains Intact
GILT TECHS
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- RES 4: 107.00 Round number resistance
- RES 3: 106.84 High Sep 8
- RES 2: 106.25 High Sep 12
- RES 1: 105.59 High Nov 10
- PRICE: 104.32 @ Close Nov 14
- SUP 1: 102.34/99.92 50-day EMA / 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 last week’s strength reinforces bullish conditions. The contract has cleared resistance at 104.39, the Oct 27 high and confirmed a resumption of the uptrend. Note too that the move higher also confirmed the recent bull flag formation on the daily chart. Resistance at 105.34, the Nov 4 high has been pierced. A clear break would open 106.25, the Sep 12 high. Key support is at 99.92, the Nov 8 low.
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