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(Z3) Trading Closer To Its Recent Highs

GILT TECHS
  • RES 4: 99.73 Low Apr 19 (cont)
  • RES 3: 99.26 50.0% of the Mar 20 - Oct 23 downleg (cont)
  • RES 2: 98.98 High May 22 (cont)
  • RES 1: 97.99 High Nov 17
  • PRICE: 97.32 @ Close Nov 22
  • SUP 1: 95.93 Low Nov 15
  • SUP 2: 94.72/58 50-day EMA / Low Nov 13 and a key support
  • SUP 3: 93.44 Low Nov 2
  • SUP 4: 92.63 Low Nov 1

Gilt futures maintain a firmer tone and the contract is trading closer to its recent highs. Resistance at 96.71, the Sep 20 high, has been breached. This paves the way for a climb towards 98.98 next, the May 22 high on the continuation chart, and potentially 99.26, 50.0% of the Mar 20 - Oct 23 downleg (cont). On the downside, key short-term support has been defined at 94.58, the Nov 13 low.

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