Free Trial

(Z9) Bears Target 131.05 *RES 4:.........>

GILT TECHS: (Z9) Bears Target 131.05
*RES 4: 134.67 High Oct 10
*RES 3: 133.55 High Oct 11
*RES 2: 133.02 50-day EMA
*RES 1: 132.95 High Oct 15
*PRICE: 132.010 @ Close Oct 16
*SUP 1: 131.47 Low Oct 16
*SUP 2: 131.05 Low Sep 13 and bear trigger
*SUP 3: 130.39 1.00 projection of Sep 3 - Sep 13 decline off Oct 8 high
*SUP 4: 130.00 Round number support
Z9 Gilt managed a fresh low print yesterday. The outlook remains bearish
following last weeks sell-off, with a focus on a test and likely breach of key
support at 131.05, Sep 13 low. Momentum studies are bearish too, reinforcing the
current theme. A break of 131.05 would open 130.39, a Fibonacci projection and
confirm a resumption of the broader decline that began on Sep 3. Resistance for
now has been defined at 132.95, Tuesday's high.

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.