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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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  • RES 4: 130.38 High Feb 17
  • RES 3: 129.75 High Feb 19
  • RES 2: 129.27 High Mar 2 and the reversal trigger
  • RES 1: 128.93 High Mar 25
  • PRICE: 128.49 @ Close Mar 26
  • SUP 1: 127.55 Low Mar 22
  • SUP 2: 126.79 Low Mar 18 and the bear trigger
  • SUP 3: 126.55 Low Apr 17, 2019 (cont)
  • SUP 4: 126.00 Round number support

Gilt futures traded higher last week having defined a key support at 126.79, Mar 18 low. The move higher resulted in a climb above former resistance at 128.33, Mar 16 high and further gains would expose the firm resistance and bull trigger at 129.27, Mar 2 high. From a trend perspective, the primary direction remains down. The trigger for a resumption of bearish pressure is 126.79. A break of 129.27 would alter the picture.

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MNI London Bureau | +44 203-586-3805 |

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