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(H3) Pierces Key Short-Term Support

GILT TECHS
  • RES 4: 107.06 High Nov 24 and the bull trigger
  • RES 3: 106.95 High Dec 2
  • RES 2: 106.18 High Dec 12
  • RES 1: 105.29 High Dec 15
  • PRICE: 103.58 @ Close Dec 16
  • SUP 1: 103.10 Low Dec 16
  • SUP 2: 103.00 Round number support
  • SUP 3: 102.77 Low Nov 10 (cont)
  • SUP 4: 102.00 Round number support

Gilt futures traded lower Friday, to extend the pullback from the Nov 24 high of 107.06. Price has pierced support at 103.54, the Nov 21 low. A clear break would strengthen a bearish threat and signal scope for a deeper pullback. This would open 103.00. On the upside, the bull trigger is unchanged at 107.06, the Nov 24 high, where a break would confirm a resumption of the uptrend. Initial resistance is at 105.29, the Dec 15 high.

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