(H4) Bullish Trend Structure

• RES 4: 104.00 Psychological round number
• RES 3: 103.81 2.236 proj of the Nov 30 - Dec 6 - Dec 11 price swing
• RES 2: 103.44 76.4% of the Mar 20 - Oct 23 downleg (cont)
• RES 1: 103.40 High Dec 21
• PRICE: 103.27 @ Close Dec 22
• SUP 1: 100.93 Low Dec 18
• SUP 2: 100.20 High Dec 13 and gap high
• SUP 3: 99.83 20-day EMA
• SUP 4: 98.97 High Dec 6 and a recent breakout level

The current uptrend in Gilt futures remains intact and the contract gapped higher last Wednesday. This confirms once again, a resumption of the underlying uptrend and maintains a bullish price sequence of higher highs and higher lows. The focus is on 103.44 next, a Fibonacci projection. Initial firm support lies at 100.20, the Dec 13 high. Short-term weakness would be considered corrective.