Gilts hit our upper target of 112.80/85 and topped exactly here. Profit taking hit and prices fell back to Thursday's high of 112.12 to fill the gap. Just be aware that a gap lower this morning is negative and signals a top in the market has been seen. We should target support at 111.85 but below trend line support at 111.75 adds pressure for a move towards 111.56/53 and possibly as far as 111.27/25 for a buying opportunity this week.
Immediate resistance at 112.60/62 then a retest of Friday's high and resistance at 112.80/85 which is expected to hold a move higher again today.