27 Jun 2013
Flash: Gilts poised for bullish correction – RBS
FXstreet.com (New York) - “Gilts have formalized a large inverse head and shoulders pattern with 2.8% and 3.13% targets, being the 161.8% and full 200% projection from the head-to-neckline distance.” calculates Technical Strategist Dmytro Bondar at RBS.
However, in the short-term, a strong reaction with the 138.2% projection coupled with the Evening Star pattern suggest there will be a bullish correction from 2.6% to 2.27%/2.18% gap and Fibo levels (potentially to 2.07%). 20-day MA is a key trailing resistance to watch.
However, in the short-term, a strong reaction with the 138.2% projection coupled with the Evening Star pattern suggest there will be a bullish correction from 2.6% to 2.27%/2.18% gap and Fibo levels (potentially to 2.07%). 20-day MA is a key trailing resistance to watch.