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(H1) Key Resistance Exposed

GILT TECHS
  • RES 4: 137.06 1.236 proj of the Dec 2 - 11 rally from the Dec 24 low
  • RES 3: 137.00 Round number resistance
  • RES 2: 136.48 1.00 proj of the Dec 2 - 11 rally from the Dec 24 low
  • RES 1: 135.96/99 High Jan 4 / High Dec 11 and the bull trigger
  • PRICE: 135.33 @ Close Jan 5
  • SUP 1: 134.89 Low Dec 30
  • 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 started the year on a firm note trading to a high just short of key resistance at 135.99, Dec 11 high. Clearance of 135.99 would strengthen a bullish case and confirm a resumption of the upleg that has been in place since Nov 11. On the downside, initial support is at 134.89, Dec 30 low ahead of the key 134.01 level, Dec 24 low. A move below 134.89 would highlight a bearish intraday risk.

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