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(H3) Outlook Remains Bullish

GILT TECHS
  • RES 4: 109.47 High Aug 31 (cont)
  • RES 3: 108.00 Round number resistance
  • RES 2: 107.06 High Nov 24 and the bull trigger
  • RES 1: 106.95 High Dec 2
  • PRICE: 105.21 @ Close Dec 2
  • SUP 1: 104.78 Low Nov 23
  • SUP 2: 103.54 Low Nov 21 and key near-term support
  • SUP 3: 103.00 Round number support
  • SUP 4: 102.77 Low Nov 10 (cont)

Gilt futures are consolidating but trend conditions remain bullish. Recent fresh cycle highs maintain the current price sequence of higher highs and higher lows and moving average studies highlight a bull mode set-up, reinforcing the uptrend. The focus is on a climb to 109.47 next, the Aug 31 low on the continuation chart. Initial firm support lies at 103.54, the Nov 21 low. Short-term pullbacks would be considered corrective.

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