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(H3) Key Support Intact - For Now

  • 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: 104.91 @ Close Feb 9
  • SUP 1: 104.40 Low Feb 8
  • SUP 2: 104.04 Low Jan 30 and a key near-term support
  • SUP 3: 103.94 50-day EMA
  • SUP 4: 103.21 Low Jan 17

Gilt futures have traded lower this week and the contract remains in a short-term bear cycle. Initial firm support to watch lies at 104.04, the Jan 30 low. The latest pullback is considered corrective, however, a break of 104.04 would highlight a short-term top and expose 103.94 initially, the 50-day EMA and a key support. A resumption of gains would refocus attention on the bull trigger that has been defined at 107.78, the Feb 2 high.

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