Technical forecast for Gilt

gilt2

Gilts broke July’s low at 111.17 but only as far as 110.99. The daily chart outlook still negative but we are just getting oversold short term so the downside may be a little more limited. However a break below 110.90 could trigger a test of June lows at 110.48/33.

Resistance at 111.51/57 could hold the topside but above here look for 111.75/80, possibly 111.93/00 for a selling opportunity.

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