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GILT TECHS: (Z4) Southbound

GILT TECHS
Fixed Income Technical AnalysisCEEMEABulletUKGlobalFixed Income BulletsRegionMarkets
  • RES 4: 100.39 High Sep 19
  • RES 3: 100.00 High Sep 23  
  • RES 2: 99.47 High Oct and key short-term resistance    
  • RES 1:  98.14 Intraday high          
  • PRICE: 97.36 @ 15:00 BST Oct 4
  • SUP 1: 96.99 0.764 proj of the Sep 17 - 30 - Oct 1 price swing             
  • SUP 2: 96.23 1.00 proj of the Sep 17 - 30 - Oct 1 price swing   
  • SUP 3: 96.00 Round number support
  • SUP 4: 95.47 1.236 proj of the Sep 17 - 30 - Oct 1 price swing 

A bear threat in Gilt futures remains present and today’s impulsive sell-off reinforces this theme. The contract has traded through support at 98.11, the Sep 2 low and a bear trigger. The break strengthens the downtrend, signalling scope for a deeper retracement, towards 96.99, a Fibonacci projection. Initial firm resistance has been defined at 99.47, the Oct 1 high and just above the 20-day EMA.

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  • RES 4: 100.39 High Sep 19
  • RES 3: 100.00 High Sep 23  
  • RES 2: 99.47 High Oct and key short-term resistance    
  • RES 1:  98.14 Intraday high          
  • PRICE: 97.36 @ 15:00 BST Oct 4
  • SUP 1: 96.99 0.764 proj of the Sep 17 - 30 - Oct 1 price swing             
  • SUP 2: 96.23 1.00 proj of the Sep 17 - 30 - Oct 1 price swing   
  • SUP 3: 96.00 Round number support
  • SUP 4: 95.47 1.236 proj of the Sep 17 - 30 - Oct 1 price swing 

A bear threat in Gilt futures remains present and today’s impulsive sell-off reinforces this theme. The contract has traded through support at 98.11, the Sep 2 low and a bear trigger. The break strengthens the downtrend, signalling scope for a deeper retracement, towards 96.99, a Fibonacci projection. Initial firm resistance has been defined at 99.47, the Oct 1 high and just above the 20-day EMA.