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(M1) Bear Trend Resumption

GILT TECHS
  • RES 4: 130.46 High Feb 16
  • RES 3: 130.00 Round number support
  • RES 2: 129.75 High Feb 19
  • RES 1: 129.27 High Mar 2 and the key resistance
  • PRICE: 127.41 @ 12:32 GMT Mar 15
  • SUP 1: 127.31 Intraday low
  • SUP 2: 127.00 Round number support
  • SUP 3: 126.85 Low May 3, 2019 (cont)
  • SUP 4: 126.55 Low Apr 17, 2019 (cont)

Gilt futures are lower and importantly, have breached the key support at 127.55, Feb 26 low. The break lower confirms a resumption of the underlying downtrend that has been in place since early August last year as the bearish price sequence of lower lows and lower highs extends. The focus is on a move to 127.00 next and 126.85 further out, May 3, 2019 low (cont). On the upside, key resistance remains 129.27, Mar 2 high.

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