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(Z3) Support Remains Intact For Now

GILT TECHS
  • RES 4: 97.68 1.00 proj of the Aug 17 - Sep 1 - Sep 6 price swing
  • RES 3: 97.57 High Jul 24(cont)
  • RES 2: 97.00 Round number resistance
  • RES 1: 96.05/96.71 High Sep 25 / 20
  • PRICE: 95.14 @ Close Sep 26
  • SUP 1: 94.64 Low Sep 18
  • SUP 2: 94.05 Low Sep 11
  • SUP 3: 93.36 Low Sep 6 and a key support
  • SUP 4: 93.00 Round number support

Gilt futures have traded lower this week but - for now - remain above last week’s low. On Sep 20 , the contract breached resistance at 96.49, the Sep 14 high. The break confirmed a resumption of the bull cycle that started Aug 17 and signals scope for 97.00 handle. Key short-term support to watch has been defined at 94.64, the Sep 18 low. A clear break of 94.64, would threaten the bullish condition and expose 94.05, the Sep 11 low.

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