Gilts: Overbought Short Term
Jason Sen | Apr 28, 2014 03:38AM ET
Gilts beat 110.34/39 to top at 110.71. Overbought short term so the 110.71/74 area could hold a move higher today. However if we continue higher look for strong resistance and April highs at 110.95/111.04. A good chance of a high for the week here. Exit longs and try shorts with stops above 111.18. Go with a break higher then for 111.23 and possibly 111.41/48. If we continue higher this week we have a gap to fill at 111.81.
Immediate support is 110.48 but below here 110.39/34 could hold the downside. If however we continue lower look for support at 110.23 then a gap to fill at 110.12/08 for a buying opportunity.
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