Free Trial

(Z3) Tops 20-day EMA, Shifts in S/T Momentum Bullish

  • RES 4: 96.71 High Sep 20
  • RES 3: 95.95 3.0% 10-dma envelope
  • RES 2: 95.67 High Sep 26
  • RES 1: 95.24 High Oct 11
  • PRICE: 94.24 @ 16:51 BST Oct 12
  • 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 rallied sharply Monday, and strength persisted through the Wednesday session. This works against the previously bearish condition, with prices looking to break and close above the 94.08 20-day EMA. Such a close Wednesday would confirm a short-term shift in momentum. To the downside, the contract 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.

MNI London Bureau | +44 203-865-3809 |

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.