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(Z3) Approaching Key Support

GILT TECHS
  • RES 4: 95.67 High Sep 26
  • RES 3: 94.74 High Sep 28
  • RES 2: 94.43 20-day EMA
  • RES 1: 93.18 High Oct 3
  • PRICE: 91.77 @ 08:12 BST Oct 4
  • SUP 1: 91.47 Low Aug 17 and key support
  • SUP 2: 91.00 Round number support
  • SUP 3: 90.06 1.00 proj of the Jul 19 - Aug 17 - Sep 20 price swing
  • SUP 4: 90.00 Psychological round number

Gilt futures remain bearish and yesterday’s move lower once again reinforces this condition. Today’s gap lower also strengthens the case for bears. The contract has recently breached 93.36, the Sep 6 low and a key support. Furthermore, 92.71, 76.4% of Aug 17 - Sep 20 bull run, has been breached. Sights are on 91.47, the Aug 17 low, and the next key support. On the upside, initial firm resistance is at 94.43, the 20-day EMA.

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