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(M1) Bear Trend Extends

GILT TECHS
  • RES 4: 129.75 High Feb 19
  • RES 3: 129.27 High Mar 2 and the key resistance
  • RES 2: 128.33 High Mar 16
  • RES 1: 127.34 High Mar 18
  • PRICE: 127.14 @ Close Mar 18
  • SUP 1: 126.79 Low Mar 18
  • SUP 2: 126.55 Low Apr 17, 2019 (cont)
  • SUP 3: 126.00 Round number support
  • SUP 4: 125.07 High Dec 10, 2018

Gilt futures remain bearish and the contract traded lower yesterday, confirming once again a resumption of the downtrend. The move lower maintains the bearish price sequence of lower lows and lower highs and with moving average studies also pointing south, further downside is likely. The move below 127.00 opens 126.55 next, Apr 17, 2019 low (cont). On the upside, initial firm resistance has been defined at 128.33, Mar 16 high.

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