Bunds:
Bunds made it through yesterday’s high of 139.95 to test the contract highs of 140.23...holding at 140.20.
If we dip back today from here it would leave double top in place and we should test 139.61 first. Below 139.50, look for 139.25/18 for a short term buying opportunity. A break below 139.90 however activates stops for 138.67/55.
Resistance at the highs of 140.23. This is of course a major level and should really hold the upside. Attempt shorts with stops above 140.40 for 142.65 then 142.83.
Bobl:
Bobl held just above fib support at 125.52 before heading higher making another small break above the highs before closing below. We are now entering overbought territory on the daily so we must beware of entering longs unless we break and hold above the highs. However if we fail to hold a break above the highs we may see growing pressure to see a pullback.
Resistance remains at the highs at 125.75/78 and if we break and hold above here our next target would be 126.05 before long term trend line resistance going back to 2003 at 126.20/23.
Support if we see a pullback from these higher levels starts at 125.47/52 before better support at 125.23. cover shorts here and look to re sell a break below 125.07 for 124.80 and then last weeks lows at 124.68/69.
Schatz:
Schatz held support at 110.36/37 before heading higher above 110.40 to just in front of 110.42. Outlook unchanged and if we get above here we can test the highs again.
Resistance remains at 110.42 then the highs at 110.44/45. we would look to attempt shorts keeping stops above 110.47/48 as a break above here sees further gains towards 110.53.
Support at 110.39/40 then 110.35/36 before 110.30/29 then the decent support at 110.27/25 and we would look for this level to hold any sell off today so we could attempt longs here keeping stops below 110.22. Below here we have the recent lows at 110.20 before good support at 110.17
Gilts:
Gilts despite dipping below fib support at 115.40 rallied up to make new highs on this spike at 115.82. If we can hold above 115.55 we would look to see further on the upside.
Resistance starts today at yesterdays highs at 115.82, if we can get above here we would look to challenge 16.00/10 region, we may see this hold at the first attempt but a break above here and we would look to 16.44/46 before the contract highs at 117.00. We would be looking to enter shorts on approach to this level
If we see a pullback, support is found at fib support at 115.40 down to yesterdays lows at 115.32. A break below here and next support is found at 115.11 before 114.91. A break below the weeks lows at 114.81 and we would then look to fib support at 114.67 before 114.32. where we would look for this area to hold any sell off today. Better support found below at 113.91/96