Saturday, June 13, 2009

UK Long Gilts Chart review - 13.06.2009

UK Long Gilts Daily chart - we could see a Gap which could possibly turn into an Island reversal pattern. However the trend is intact and the breach of the 200-DMA is a substantial fact.
There is a very good probability of Gap filling up to 117.50 and even a test of the Ressitance of the 200-DMA at 118.

Should the Bears reign in full stregth the immediat target is the previous High at 114.40.
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The UK Long Gilt Weekly chart is in accordance witht e Daily one. The 55-Week MA at 115.21 is a tempting target to test. The last Weekly candle range (116 - 118) might see some rotational flow to test both ist sides before a trend continuation or reversal so I will remain vigilant to any possible changes.


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