10-Year Gilts Break 116/55/60, Reach 116.88 Target

Published 01/15/2013, 02:22 AM
10 Year Gilt
Gilts opened above 116.44 and broke 116.55/60 to reach the 116.88 target. A break of yesterday’s high of 116.91 is very possible and should target last week’s high at 117.11/15 for another selling opportunity. Stop above 117.24 and buy back in to longs looking for 117.41/42 then 117.58.

Good support at 116.61 could mark the low if tested but below here look for 116.46 then a gap to fill at 116.36/30. Below 116.04/00 we should test support from the January lows at 115.79/75 and if this breaks we could see the market slide towards 115.34. Any longs attempted here need a stop below 115.10.

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