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(H4) Bull Cycle Remains In Play

GILT TECHS
  • RES 4: 99.12 138.2% retracement of the Nov 17 - 24 bear leg
  • RES 3: 98.71 123.6% retracement of the Nov 17 - 24 bear leg
  • RES 2: 98.05 High Nov 17 and a key resistance
  • RES 1: 97.93 High Nov 22 / 29
  • PRICE: 97.57 @ Close Nov 29
  • SUP 1: 96.07 20-day EMA
  • SUP 2: 95.25 Low Nov 24
  • SUP 3: 95.00 Round number support
  • SUP 4: 94.74 2.618 proj of the Nov 17 - 20 - 22 price swing

A bull cycle in Gilt futures remains in play. Key short-term support is currently seen at 95.25, the Nov 24 low. The latest recovery from this level is a positive development and the continuation higher has opened 98.05, the Nov 17 high and a bull trigger. On the downside, a break of 95.25 would instead strengthen a bearish threat and expose 94.74, the 2.618 projection of the Nov 17 - 20 - 22 price swing. Initial support lies at 96.07, the 20-day EMA.

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