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(H3) Bearish Break Persists

GILT TECHS
  • RES 4: 108.96 2.236 proj of the Jan 23 - 25 - 30 price swing
  • RES 3: 108.44 2.00 proj of the Jan 23 - 25 - 30 price swing
  • RES 2: 107.78 High Feb 2 and the bull trigger
  • RES 1: 105.67/106.88 High Feb 9 / 6
  • PRICE: 101.80 @ 15:58 GMT Feb 22
  • SUP 1: 101.22 2.0% Lower Bollinger Band
  • SUP 2: 101.01 2.0% 10-dma envelope
  • SUP 3: 100.94 Low Feb 22
  • SUP 4: 99.18 Low Dec 28

Gilt futures printed another pullback low early Tuesday, marking an extension of the bearish break for the contract. This confirms a reversal of the late January bullish theme, and opens next support at 101.22 initially, vol band support. Initial resistance remains at 105.67, the Feb 9 high, but markets have opened a decent gap with that next upside level.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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