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17 Jun 2013
Flash: Gilts eye 1.94% bullish correction – RBS
FXstreet.com (New York) - Gilts are targeting a break below 2.07% being the 23.6% retracement from the July-February impulse wave.
According to Technical Strategist Dmytro Bondar at RBS, “This movement, coupled with a negative divergence with the slow stochastic oscillator suggests the market will see a bullish correction to the 1.94% pivot point, which is the 38.2% retracement from the same move and the level of 100-day MA. However, after the correction is completed, the long-term bearish view would come into play again with 2.27% in focus.” Bondar adds.
According to Technical Strategist Dmytro Bondar at RBS, “This movement, coupled with a negative divergence with the slow stochastic oscillator suggests the market will see a bullish correction to the 1.94% pivot point, which is the 38.2% retracement from the same move and the level of 100-day MA. However, after the correction is completed, the long-term bearish view would come into play again with 2.27% in focus.” Bondar adds.