The Markit iBoxx £ Liquid CorporatesLong Dated Index provides exposureto the 40 major bonds of the most liquid companies, denominated ....
Day By Day – Indipendent Research
In the short-term, following an intermediate correction from the resistance at 185.40 points, the index rebounded off the major level at 178.70 points, a former resistance which became a support and now reinforced by the 200-day moving average. The bullish dynamics therefore continue after the formation of a couple of troughs, with a peak higher than the previous ones. The bullish crossing of an oversold MACD indicator (an indicator of the strength of the movement) has also confirmed this scenario.
We are thereforepositive in the short-term and envision rallying towards the resistance at 188.20 points (the target achieved by projecting the range of 168.70 to 178.70 points + the projection of the last bullish impulse: blue arrows) with an intermediate target of 185.40 points corresponding to the previous peaks.
We set the invalidation threshold for this positive scenario slightly below the major support at 178.70 points.
|2 months Opinion||BULLISH|
|2 weeks Opinion||POSITIVE|
|Resistances||185,4 / 188,2 pts|
|Supports||178,7 / 175,7 pts|
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Source: ETFWorld – Day By Day – Indipendent Research