GILT TECHS: (Z4) Correction Extends

RES 4: 102.00 Round number resistance

• RES 3: 101.78 1.00 proj of the Sep 2 - 6 - 9 price swing 
• RES 2: 101.06/101.54 High Sep 18 / 17  
• RES 1: 99.88/100.39 20-day EMA / High Sep 19        
• PRICE: 98.74@ 10:12 BST Sep 24
• SUP 1: 98.71 Intraday low           
• SUP 2: 98.11 Low Sep 2 and a key support  
• SUP 3: 98.00 Round number support
• SUP 4: 97.30 1.236 Fibonacci retracement proj of the Sep 2 - 17 rally

A bull cycle in Gilt futures remains intact, however, the sell-off that started Sep 7, highlights a corrective phase and this week’s move lower suggests potential for a continuation near-term. Support at 98.92, 76.4% of the Sep 2 - 17 bull leg, has been cleared and this strengthens the current bearish theme. The break exposes the key support at 98.11, the Sep 2 low. For bulls, a reversal higher would refocus sights on 101.54, Sep 17 high.