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(H2) Starting 2022 On A Bearish Note

GILT TECHS
  • RES 4: 126.76 High Dec 21
  • RES 3: 125.93 High Dec 22
  • RES 2: 125.73 20-day EMA
  • RES 1: 125.18 High Dec 31
  • PRICE: 124.09 @ 09:25 GMT Jan 4
  • SUP 1: 124.00 Intraday low
  • SUP 2: 123.79 2.764 proj of the Dec 8 - 16 - 20 price swing
  • SUP 3: 123.48 3.00 proj of the Dec 8 - 16 - 20 price swing
  • SUP 4: 123.24 3.0% Lower Bollinger Band

Gilt futures remain in a downtrend and have started today’s session on a bearish note. The contract has cleared support at 124.35, Dec 29 low and 124.17, Nov 24 low. The break of this latter support strengthens bearish conditions and opens 123.48, a Fibonacci projection. On the upside, resistance is seen at 125.18, the Dec 31 high and 125.73, the 20-day EMA. Clearance of this zone is required to ease bearish pressure.

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