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GILT TECHS: (Z4) Trend Structure Remains Bullish

GILT TECHS
  • RES 4: 101.00 Round number resistance
  • RES 3: 100.79 1.2136 proj of the Aug 12 - 14 - 23 price swing 
  • RES 2: 100.30 High Aug 14
  • RES 1: 99.85 High Aug 22   
  • PRICE: 99.48 @ Close Aug 23
  • SUP 1: 98.99 50-day EMA (cont)       
  • SUP 2: 98.92 Low Aug 26   
  • SUP 3: 98.79 Low Aug 12 and a key near-term support 
  • SUP 4: 98.00 Round number support 

The trend condition in Gilt futures is unchanged, it remains bullish and the latest pullback still appears to be a correction. Note that the move lower has allowed an overbought trend reading to unwind. A resumption of bullish price action would signal scope for a climb towards the 101.00 handle. Support to watch is 98.79, the Aug 12 low. Moving average studies on the continuation chart remain in a bull-mode set-up, highlighting an uptrend.

Fixed Income Technical AnalysisCEEMEABulletUKGlobalFixed Income BulletsRegionMarkets

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