Free Trial

(Z9) Downtrend intact *RES 4: 135.90.....>

GILT TECHS
GILT TECHS: (Z9) Downtrend intact
*RES 4: 135.90 Contract high Sep 4
*RES 3: 134.79 High Sep 9
*RES 2: 134.12 High Sep 6
*RES 1: 133.27 High Sep 12
*PRICE: 132.51 @ Close Sep 12
*SUP 1: 131.99 Low Sep 11
*SUP 2: 131.90 0.618 projection of Sep 3 - Sep 5 decline from Sep 6 high
*SUP 3: 131.00 Round number support
*SUP 4: 130.52 1.000 projection of Sep - 5 rally from Sep 6 high
Z9 Gilt selling pressure dominated again yesterday following a failed attempt to
rally. The current downtrend remains intact with a price sequence of lower lows
and lower highs confirmed. Momentum studies remain bearish too, reinforcing the
current outlook. The focus is on 131.90, a Fibonacci projection level. Prices
have also probed the 50-day EMA, a stronger sell-off would open 131.00.
Resistance is at 133.27, yesterday's high.

To read the full story

Close

Why MNI

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.