Gilts: Opened Below 109.23 Low
Jason Sen | Apr 02, 2014 03:45AM ET
Gilts opened lower but above Monday's low of 109.23 to beat 109.48 and reach resistance at 109.63/65. We topped exactly here but if we continue higher today, look for 109.75/76 and the 200 day moving average at 109.85/88. A high for the day is expected here but above look for the next resistance at 110.05/06 before March highs at 110.29/32.
Immediate support is 109.50/48 and could hold the downside but below risks a retest of this week's low at 109.28/23. Failure here today could lead to a test of the 100 day moving average and last week's low at 109.08/06 before 2 week lows at 108.88.
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