Free Trial

(Z9) Downside Extension Likely *RES 4:...>

GILT TECHS: (Z9) Downside Extension Likely
*RES 4: 133.55 High Oct 11
*RES 3: 133.01 High Oct 31 and key near-term resistance
*RES 2: 132.32 High Nov 4
*RES 1: 131.91 High Nov 6
*PRICE: 130.78 @ Close Nov 12
*SUP 1: 130.49 Low Nov 8
*SUP 2: 130.39 1.000 projection of Sep 3 - Sep 13 decline off Oct 8 high
*SUP 3: 129.91 Projected channel base drawn off Sep 3 high
*SUP 4: 1.2925 1.236 projection of Sep 3 - Sep 13 decline off Oct 8 high
Z9 Gilt remains vulnerable following the recent rejection off 133.01, Oct 31
high and the subsequent sell-off. With the focus on continued weakness,
attention is on 130.39 and 129.91 next, a Fibonacci projection and the base of a
bear channel drawn off the Sep 3 high. On the upside, resistance is seen at
131.91, Nov 6 high however, to signal a reversal prices need to clear resistance
at 133.01, Oct 31 high.

To read the full story

Why Subscribe to


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.