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10-Year Gilt Reach Next Target At 117.85.90

By  |  Bonds  |  Dec 21, 2012 04:51PM GMT  |   Add a Comment
 
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10 Year Gilt
10 Year Gilt

Gilts beat resistance at 117.63 to reach the next target at 117.85/90 and as predicted this was too tough to beat as we topped at 117.83. However if we push through 117.90 today look for 118.24 and a chance to exit longs and sell in to shorts. Stops above 118.35 for 118.57.

Support at 117.63/60 and then the week’s lows at 117.25/20. If we break lower from here today we should see a test of weekly Fibonacci support at 117.00-116.95. Exit shorts here looking for a bounce with a stop below 116.75.

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