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Gilts: Rockets Unexpectedly To Hit 110.16

Published 06/26/2014, 02:36 AM
Updated 07/09/2023, 06:31 AM

Gilts

Gilts rocketed unexpectedly to hit 110.16. This represents a 61.8% recovery of the losses from late May to mid June and is therefore strong resistance. However betting against a follow through of yesterday's strong performance is not the best idea so be ready to go with a break higher for 100 week moving average resistance at 110.27/28 then the next resistance at 110.56/60.

A drift lower would allow an unwinding of the short term overbought conditions. Below 110.07/05 adds pressure for 109.90/85 which could hold the downside. However if prices continue lower look for a buying opportunity at 109.63/57. Exit shorts ans try longs with stops below 109.45.

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