Free Trial

(Z3) Corrective Cycle Still In Play

  • RES 4: 97.27 76.4% retrace of the Jul 19 - Aug 17 bear leg (cont)
  • RES 3: 96.19 High Jul 31(cont)
  • RES 2: 95.82 High Aug 10 (cont)
  • RES 1: 95.11 High Aug 24
  • PRICE: 94.55 @ Close Aug 25
  • SUP 1: 94.15 Low Aug 25
  • SUP 2: 93.00 Round number support
  • SUP 3: 92.56 Low Aug 23
  • SUP 4: 91.47 Low Aug 17 and the bear trigger

A bearish theme in Gilt futures remains intact, however, a strong rally last week suggests the contract remains in a short-term corrective cycle. Price is holding on to the bulk of its recent gains reinforcing a short-term bullish theme. An extension higher would open 95.82, the Aug 10 high (cont). Note that trend signals continue to highlight a downtrend. The bear trigger has been defined at 91.47, the Aug 17 low.

To read the full story



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.