Trading was volatile in Gilts yesterday. Initial downside confirmed our negative view but selling pressure stalled, and reversed, near the 13 day mvg avg. The subsequent highs of the day were also not maintained and so prices closed for only minor net gains. But it is the downside rejection of the avg, coupled with a gradually rising Keltner channel that confirms our technical studies as mildly positive.
Setbacks should attract buyers near 132.27, potential on the upside today to 132.83/97 and only below 132.04 is assessed as negative in the short term.