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(H4) Continues Its Ascent

GILT TECHS
  • RES 4: 104.57 2.50 proj of the Nov 30 - Dec 6 - Dec 11 price swing
  • RES 3: 104.23 2.382 proj of the Nov 30 - Dec 6 - Dec 11 price swing
  • RES 2: 104.16 High Apr 12 (cont)
  • RES 1: 104.00 Psychological round number
  • PRICE: 103.77 @ Close Dec 27
  • SUP 1: 102.05/100.93 High Dec 19 / Low Dec 18
  • SUP 2: 100.50 20-day EMA
  • SUP 3: 100.20 High Dec 13 and gap high
  • SUP 4: 98.97 High Dec 6 and a recent breakout level

The current uptrend in Gilt futures remains intact. The contract traded to a fresh trend high yesterday, reinforcing bullish conditions. 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 104.00 next. Initial firm support lies at 100.20, the Dec 13 high. Short-term weakness would be considered corrective.

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