Technical forecast for Gilt

gilt1

Gilts broke 111.80 to retest last week’s low at 111.26/23 as expected. The outlook is quite negative still so any longs need stops below July’s low at 111.17 for 110.90 then a test of June lows at 110.48/33.

Resistance at 111.75/80 then 112.00/02 & we should struggle here again today. However above here look for the short term Fibonacci & trend line resistance at 112.16/20. Only a break above yesterday’s high at 112.27 allows further gains towards 112.50/57 for a selling opportunity with stops above 112.70.

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