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(Z3) Testing Support

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: 94.90 @ Close Sep 27
  • SUP 1: 94.60 Low Sep 27
  • 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 and the contract yesterday pierced support at 96.49, the Sep 18 low. A clear break of this level would strengthen a bearish threat and signal scope for a move towards 94.05, the Sep 11 low. On the upside, key short-term resistance has been defined at 96.71, the Sep 20 high, where a break would confirm a resumption of the uptrend that started on Aug 17.

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