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Gilts: Oversold Short Term

Published 04/03/2014, 03:18 AM
Updated 07/09/2023, 06:31 AM

Gilts Weekly Chart

Gilts gapped lower breaking 109.28/23 but bounced just 4 ticks above the 100 day moving average and last week's low at 109.08/06. We are oversold short term but meet resistance at 109.39/41. A break higher would allow prices to fill the gap at 109.54/56 but a good chance of a high for the day here. Try shorts with stops above 109.65. Next selling opportunity then see at 109.82/85.

Support at yesterday's low of 109.12 then the 100 day moving average and last week's low at 109.08/05. A good chance of a bounce from here but if we continue lower we meet 2 week lows at 108.88.

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