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(H2) Trend Needle Points South

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: 125.36 High Dec 29
  • PRICE: 124.90 @ Close Dec 31
  • SUP 1: 124.35 Low Dec 29 and the bear trigger
  • SUP 2: 124.17 Low Nov 24 and a key support
  • 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 following last week’s sell-off on Dec 29 and recent gains are considered corrective. Attention is on support at 124.17 - the Nov 24 low that also represents a key support level. A break would strengthen bearish conditions and open 123.48, a Fibonacci projection. On the upside, resistance is seen at 125.36, the Dec 29 high and 125.73, the 20-day EMA.

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