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(H1) Approaching Key Support
- RES 4: 135.96/99 High Jan 4 / High Dec 11 and the bull trigger
- RES 3: 135.73 High Jan 5
- RES 2: 135.16 High Jan 6
- RES 1: 134.82 20-day EMA
- PRICE: 134.19 @ Close Jan 11
- SUP 1: 134.07 Low Jan 11
- SUP 2: 134.01 Low Dec 24 and key support
- SUP 3: 133.63 Low Dec 4
- SUP 4: 133.52 Low Dec 2
Gilt futures traded lower again yesterday. The contract found resistance last week at 135.96, Jan 4 high and has since traded sharply lower. The sell-off has resulted in a break of support at 134.89, Dec 30 low. The move lower highlights a bearish short-term risk with the focus on 134.01 next, Dec 24 low. A break of this level would reinforce a bearish argument and open 133.52, Dec 2 low. On the upside, initial resistance is at 134.82.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.