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(H1) Impulsive Bull Rally

GILT TECHS
  • RES 4: 136.59 1.764 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 3: 136.34 1.618 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 2: 136.13 1.500 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 1: 136.00 Round number resistance
  • PRICE: 135.83 @ Close Dec 11
  • SUP 1: 135.45 Low Dec 11
  • SUP 2: 135.01 Low Dec 10 and gap high on the daily chart
  • SUP 3: 134.88 High Dec 8 and gap low on the daily chart
  • SUP 4: 134.49 20-day EMA

Gilt futures established a strong impulsive rally last week and again traded sharply higher Friday. Last week's rally confirmed an extension of the uptrend that started mid-Nov. Furthermore, the breach of 134.70, Nov 30 high, highlights a bullish price sequence of higher highs and higher lows that defines an uptrend. Attention is on 136.00 next ahead of 136.13, a Fibonacci based projection. Initial support is at 135.45, Dec 11 low.

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