Gilts: Further Downside Pressure
Jason Sen | Aug 13, 2014 06:43AM ET
Gilts held 111.85 support and failure to quite fill the gap at 112.24/26 signals further downside pressure this week. Immediate support is 111.85 but a break lower is more negative. Go with the break for a move towards 111.66 then good support at 111.56/53 which should hold the downside. However on a break lower look for a buying opportunity at 111.27/25 this week.
A high for the day possible at 112.21/26 again today but a break higher could then target 112.46/51. A break above 112.60/62 could then lead to a retest of Friday's high and resistance at 112.80/85 which is expected to hold a move higher again this week.
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