(H4) Remains Above Last Week’s Low

• RES 4: 97.93 High Nov 22
• RES 3: 96.98 61.8% proj of the Nov 17 - 20 - 22 price swing
• RES 2: 96.65 50.0% retracement of the Nov 17 - 24 downleg
• RES 1: 96.48 High No 27
• PRICE: 96.35 @ Close Nov 27
• SUP 1: 95.25 Low Nov 24
• SUP 2: 95.00 Round number support
• SUP 3: 94.74 2.618 proj of the Nov 17 - 20 - 22 price swing
• SUP 4: 94.56 2.764 proj of the Nov 17 - 20 - 22 price swing

Gilt futures traded lower last week. The pullback is considered corrective - for now - and a bull cycle remains in play. Key short-term support is currently seen at 95.25, the Nov 24 low. The recovery from this level is a positive development and a continuation higher would open 98.05, the Nov 17 high and bull trigger. On the downside, a break of 95.25 would instead strengthen a bearish threat and expose 94.74, a Fibonacci projection.