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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: 101.27 @ 15:24 GMT Feb 24
  • SUP 1: 100.93 Low Feb 24
  • SUP 2: 100.53 2.0% Lower Bollinger Band
  • SUP 3: 100.44 2.0% 10-dma envelope
  • SUP 4: 99.18 Low Dec 28

Gilt futures printed another pullback low just ahead of the Friday close, 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 100.53 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.

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