HALISTER1: Gilts Test Critical Support Zone for Long-Term Bulls: Charts

Gilts Test Critical Support Zone for Long-Term Bulls: Charts

(Bloomberg) -- U.K. 10Y bonds test a major trend band support at 1.46%-1.54%, which must be defended to maintain the bullish trend structure of market, Bloomberg technical analyst Sejul Gokal writes.
  • See chart here
  • Yield now at 1.47%
  • Appearance of trend-exhaustion candle counts (current 9 count) on weekly charts may lure tactical buyers
  • Weekly ichimoku framework remains bullish trend mode; top of cloud at 1.71%, but drops to 1.64% in two-weeks and 1.60% in three-weeks, coming in line with trend-band support
    • Future cloud twisted bearishly and falling providing a bias for higher Gilt prices in weeks to come
  • NOTE: Sejul Gokal is a technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
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Source: BFW (Bloomberg First Word)

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