IC Trade: Waiting to buy gilts.
Investors Chronicle - magazine and web content, June, 2009
Byline: Dominic Picarda
TRADING IDEA: Support is in sight, and June is often a good month to buy gilts
The long gilt future has shown some signs of stabilising itself in the 116 region, but there is still scope for its sell-off to continue.
There is much more convincing support around 114, where a whole cluster of moving averages, Ichimoku cloud barriers and Fibonacci levels exist. Once this instrument does find a floor, we think there will be an excellent buying opportunity, with new highs in prospect. Since 1988, the month of June has hosted a fifth of the significant turning-points in this instrument, leaving us on the lookout.
IC Trades are written by Investors Chronicle writers. City Trades are written by selected external...
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