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(H9) Downtrend Intact *RES 4: 125.64.....>

GILT TECHS
GILT TECHS: (H9) Downtrend Intact
*RES 4: 125.64 High May 29 (continuation chart) 
*RES 3: 124.45 High Dec 10 
*RES 2: 124.00 Down trendline resistance from Dec 10 high 
*RES 1: 123.00 Down trendline resistance from Jan 3 high 
*PREVIOUS CLOSE: 122.69 
*SUP 1: 122.15 Low Jan 18 
*SUP 2: 121.72 Low Nov 22 
*SUP 3: 121.12 Low Nov 8 (continuation chart) 
*SUP 4: 120.10 High Oct 8 (continuation chart) 
Despite yesterday's gains Gilt futures remain in their downtrend from the Jan 3
high, keeping the bigger picture focus on the downside. A break below Friday's
low at 122.15 is needed to open the Nov 22 low at 121.72. A double top pattern
has been triggered with the downside target coming in at around 121.00. Bulls
need to recover 123 to stabilise the outlook before targeting the 124 level
which marks down trendline resistance from the Dec 10 high. 

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