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(Z3) Bear Cycle Still In Play Despite Bounce

GILT TECHS
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income News
  • RES 4: 96.19 High Jul 31(cont)
  • RES 3: 95.82 High Aug 10 (cont)
  • RES 2: 95.79 High Sep 1 and key resistance
  • RES 1: 94.95 High Sep 8
  • PRICE: 94.88 @ Close Sep 8
  • SUP 1: 93.36 Low Sep 6
  • SUP 2: 93.12 61.8 retracement of the Aug 17 - Sep 1 rally
  • SUP 3: 92.56 Low Aug 23
  • SUP 4: 91.47 Low Aug 17 and key support

The short-term outlook in Gilt futures remains bearish, despite the latest recovery. A move lower earlier last week resulted in a break of support at 94.14, the Aug 29 low. The breach undermines the recent bullish theme and highlights potential for a deeper retracement with next key support at 93.12, a Fibonacci retracement. On the upside, key short-term resistance is 95.79, the Sep 1 high. Clearance of this level would reinstate a bullish theme.

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  • RES 4: 96.19 High Jul 31(cont)
  • RES 3: 95.82 High Aug 10 (cont)
  • RES 2: 95.79 High Sep 1 and key resistance
  • RES 1: 94.95 High Sep 8
  • PRICE: 94.88 @ Close Sep 8
  • SUP 1: 93.36 Low Sep 6
  • SUP 2: 93.12 61.8 retracement of the Aug 17 - Sep 1 rally
  • SUP 3: 92.56 Low Aug 23
  • SUP 4: 91.47 Low Aug 17 and key support

The short-term outlook in Gilt futures remains bearish, despite the latest recovery. A move lower earlier last week resulted in a break of support at 94.14, the Aug 29 low. The breach undermines the recent bullish theme and highlights potential for a deeper retracement with next key support at 93.12, a Fibonacci retracement. On the upside, key short-term resistance is 95.79, the Sep 1 high. Clearance of this level would reinstate a bullish theme.