UK10Y-GB
We are overall at key area but just like EUR I see no fundamental reasons short/medium term on why and who would realistically going into Gilt at this moment of time. Inflation running hot, could estimated by this yr at 13-15%, recession, housing crises and last of all political instability.
Q: What has the highest probability of occurring?
Since early July there have been 4 tests of 132.000 resistance.
There is a combination of 2 classic patterns forming at resistance.
The double top, where both tops have been rejected at 132.000, is currently valid.
The head and shoulders, the head consisting of the double top, would need to break the neckline...
UK100 is approaching our first support at 6771 (61.8%, 100% fibonacci extension, 50% fibonacci retracement, horizontal overlap support) and a strong bounce might occur below this level pushing price up to our major resistance at 7002 (76.4% fibonacci retracement, horizontal swing high resistance).
Stochastic (89,5,3) is also approaching support and we might see a...
UK100 is approaching our first support at 6771 (61.8%, 100% fibonacci extension, 50% fibonacci retracement, horizontal overlap support) and a strong bounce might occur below this level pushing price up to our major resistance at 7002 (76.4% fibonacci retracement, horizontal swing high resistance).
Stochastic (89,5,3) is also approaching support and we might see a...
Bonds are holding at the minor projection at 121.72. Due to the underlying bearish momentum we expect a continuation towards the much more important targets at respectively 116.82 and 108.90. Note that this latter level is virtually equal to multiple pivots of 2013-2014.
We maintain our strong negative stance versus bonds. Only a recovery above 125<>125.20 can...
