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(Z3) Trend Structure Is Bullish

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: 96.71 High Sep 20
  • PRICE: 96.07 @ Close Sep 22
  • SUP 1: 95.15/94.64 Low Sep 21 / 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 remain above last week’s low. On Sep 20 , the contract breached resistance at 96.49, the Sep 14 high. The break of this hurdle confirms a resumption of the bull cycle that started Aug 17 and this opens the 97.00 handle. Key short-term support has been defined at 94.64, the Sep 18 low. A reversal lower and a break of this support would threaten the bullish condition and expose 94.05, the Sep 11 low.

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