30 Jul 2013
Flash: Gilts could test 113.94 before major reversal – RBS
FXstreet.com (New York) - Technical Strategist Dmytro Bondar at RBS analyses the short-term trend of Gilts.
Key quotes
“Gilts are set to retest 113.94 (possibly 115.06) before a potential reversal takes place towards the long-term bearish targets. This is due to the morning star on the candlestick chart and a close above 20- day MA.”
“There is also a resistance gap at 113.12. The big picture is bearish amid a large inverse H&S on the yield chart with 2.8% and 3.13% targets to be reached by the year-end. In the near term, 2.20%/2.15% resistance region can be retested.”
Key quotes
“Gilts are set to retest 113.94 (possibly 115.06) before a potential reversal takes place towards the long-term bearish targets. This is due to the morning star on the candlestick chart and a close above 20- day MA.”
“There is also a resistance gap at 113.12. The big picture is bearish amid a large inverse H&S on the yield chart with 2.8% and 3.13% targets to be reached by the year-end. In the near term, 2.20%/2.15% resistance region can be retested.”