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GILT TECHS: (Z4) Retracement Mode Extends      

GILT TECHS
Fixed Income Technical AnalysisCEEMEABulletUKGlobalFixed Income BulletsRegionMarkets
  • RES 4: 101.00 Round number resistance
  • RES 3: 100.30 High Aug 14
  • RES 2: 99.85 High Aug 22
  • RES 1: 99.21 High Aug 27    
  • PRICE: 98.18 @ Close BST Sep 2
  • SUP 1: 98.11 Low Sep 2          
  • SUP 2: 98.00 Round number support   
  • SUP 3: 97.91 1.618 proj of the Aug 14 - 16 - 22 price swing
  • SUP 4: 97.73 1.764 proj of the Aug 14 - 16 - 22 price swing  

Gilt futures remain in a short-term bear cycle and the contract traded lower Monday. The move down last week resulted in a breach of 98.79, the Aug 12 low. The break highlights scope for a deeper retracement near-term that opens 98.00 next. The primary trend condition remains bullish and the latest pullback appears to be a correction. A reversal higher would signal the end of the corrective phase. Initial firm resistance is 99.21, the Aug 27 high.

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  • RES 4: 101.00 Round number resistance
  • RES 3: 100.30 High Aug 14
  • RES 2: 99.85 High Aug 22
  • RES 1: 99.21 High Aug 27    
  • PRICE: 98.18 @ Close BST Sep 2
  • SUP 1: 98.11 Low Sep 2          
  • SUP 2: 98.00 Round number support   
  • SUP 3: 97.91 1.618 proj of the Aug 14 - 16 - 22 price swing
  • SUP 4: 97.73 1.764 proj of the Aug 14 - 16 - 22 price swing  

Gilt futures remain in a short-term bear cycle and the contract traded lower Monday. The move down last week resulted in a breach of 98.79, the Aug 12 low. The break highlights scope for a deeper retracement near-term that opens 98.00 next. The primary trend condition remains bullish and the latest pullback appears to be a correction. A reversal higher would signal the end of the corrective phase. Initial firm resistance is 99.21, the Aug 27 high.