(M0) Extension Higher Still Likely.......>

GILT TECHS: (M0) Extension Higher Still Likely

*RES 4: 138.15 High Mar 12

*RES 3: 138.00 Round number resistance

*RES 2: 137.31 High Mar 30 and bull trigger

*RES 1: 137.19 High Apr 1

*PRICE: 136.94 @ Close Apr 17

*SUP 1: 136.38 Low Apr 14

*SUP 2: 135.53 Low Apr 7 and key near-term support

*SUP 3: 135.30 Low Mar 31

*SUP 4: 135.20 50-day EMA

Gilt futures are consolidating but remain bullish and an extension of the sharp

reversal on Mar 19 is still likely. The focus is on 138.00 and 138.15. The

latter is the Mar 12 high. Clearance of this level would open the key contract

high of 139.84 from Mar 9. A print of 139.84 would confirm a 100% retracement of

the Mar 9 - 19 sell-off. MA studies still point north reinforcing bullish

conditions. Key support is 135.53, Apr 7 low. The bull trigger is 137.31.