28th September - watch the Uk Gilt market closely
01 October 2018
TECHNICALS:
MONTHLY iShares UK Gilts ETF chart This long-term chart reveals at the market is poised to test the long-term diagonal bull trendline support from 2008. At the same time the horizontal support from the Prior High from 2014 is being tested. A simultaneous break of both long-term supports would be very bearish.
WEEKLY Long Gilt future continuation CHART The well established medium-term bull trend support from 2012 has been smashed, and the market has been ratcheting lower since. Note that Prior Lows have not been clear and solid resistance, but that the diagonal from the lows has been more powerful, so there is a lack of clarity in the bear structures which has made it difficult for the mediumterm bears. Certainly a close beneath the Prior Low at 120.13 would be an emphatic trigger.
DAILY Dec 2018 futures CHART This is much more compelling suggesting more bear moves shortterm. Note the trigger of the double breakdown through the Prior Low 121.59 and the rising diagonal trendline support. Then note the double failure at the Prior low 121.23. The bears are in charge short21 29 4 term.
FUNDAMENTALS:
John Lewis is recovering from illness and will return shortly
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