Gilts: Targeting May Highs At 111.93
Jason Sen | May 29, 2014 03:37AM ET
Gilts beat 111.42/47 and could now be targeting May highs at 111.93. Prices are not severely overbought short term but this is important resistance so be careful. If we continue higher look for a retest of October highs at 112.20 where a high for the day does look more likely. However be ready to go with a break higher for strong weekly resistance at 112.46 and a selling opportunity here but with wide stops above 112.60.
Immediate support is 111.50/47 and could hold the downside but below here a buying opportunity at 111.33/28, with stops below 111.20. Next support at 111.05/00 should hold the downside if tested.
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