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20 Jun 2013
Flash: MACD signal downside for Gilts – RBS
FXstreet.com (Barcelona) - According to Technical Strategist Dmytro Bondar at RBS, “Gilts have made a new low on a light volume, but MACD and the slow stochastic are showing positive signals.”
Moreover, the former region shows positive divergence and the latter bullish crossover exiting oversold region. “It suggests the downside looks limited from here, as 113.00/112.73 provide a key support. The price looks likely to see a bounce/consolidation within the 112.73-115.60 range with major resistance at 114.31, 114.80 and 115.60. A break below 112.73 changes the view and makes the market quite bearish.” Bondar adds.
Moreover, the former region shows positive divergence and the latter bullish crossover exiting oversold region. “It suggests the downside looks limited from here, as 113.00/112.73 provide a key support. The price looks likely to see a bounce/consolidation within the 112.73-115.60 range with major resistance at 114.31, 114.80 and 115.60. A break below 112.73 changes the view and makes the market quite bearish.” Bondar adds.