Technical Forecast for Gilt
Gilts reached 111.93/00 for a selling opportunity & topped exactly here. We are oversold short term & held just above June lows at 110.48/33. Yesterday’s price action could signal a recovery in to the end of the week & if we can hold support at 111.23 look for a test of resistance at 111.60/66 before another look at 111.91/00. Again a high for the day is likely but be ready to go with a break higher for 112.30/34 & a selling opportunity here today.
Below 111.23 risks a slide to 111.00 before 110.73. We then meet yesterday’s low at 110.55 & a good chance of a bounce from here again but on a break lower look for 110.48, possibly June lows at 110.33.
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