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(N2) Corrective Pullback


Largest sell program since September


E-MINI S&P (M2): Breaches Support


Bradesco Sees Terminal Rate at 13.25%

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(M1) Bearish Focus

  • RES 4: 129.75 High Feb 19
  • RES 3: 129.27 High Mar 2 and the reversal trigger
  • RES 2: 128.93 High Mar 25
  • RES 1: 128.040 Low Mar 29 and gap high on the daily chart
  • PRICE: 127.59 @ Close Mar 31
  • SUP 1: 127.34 Low Mar 19
  • 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 maintain a softer tone following the recent pullback and attention has turned to key support at 126.79, Mar 18 low. From a trend perspective, the primary direction remains down and further bearish pressure is seen likely near term. The trigger for a resumption of the downtrend is 126.79. On the upside, initial firm resistance has been defined at 128.930, Mar 25 high. A break would expose the key hurdle for bulls at 129.27, Mar 2 high.

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

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