Technical forecast for Gilt

gilt

Gilts continued lower as predicted to the 111.32/29 level & bottomed almost exactly here. We rallied sharply to Thursday’s low at 12.00/02 but we should struggle here again today. Only a break above the short term Fibonacci & trend line resistance at 112.15/20 allows further gains towards 112.50/57 for a selling opportunity with stops above 112.70.

Immediate support is 111.83/80 but below here there is little to stop a retest of 111.23/17 support. A break below 110.90 then triggers further selling for a test of June lows at 110.48/33.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More