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(M3) Approaching Key Resistance

GILT TECHS
  • RES 4: 108.91 High Nov 24 2022 (cont) and a key M/T resistance
  • RES 3: 108.00 Round number resistance
  • RES 2: 107.78 High Feb 2 (cont) a and a key resistance
  • RES 1: 107.33 High Mar 20
  • PRICE: 107.10 @ 10:37 GMT Mar 24
  • SUP 1: 105.46 Intraday low
  • SUP 2: 103.84/102.84 Low Mar 23 / 22
  • SUP 3: 102.31 61.8% retracement of the entire rally from Feb 28
  • SUP 4: 102.00 Round number support

Gilt futures traded to a low of 102.84 Wednesday. Price has recovered from this low and the bounce has accelerated today. Sights are on 107.33, the Mar 20 high and bull trigger. Clearance of this level would reinforce a bullish theme and open 107.78, the Feb 2 high on the continuation chart. On the downside, support to watch is at the 20-day EMA which intersects at 103.35. A clear break of this average is required to highlight a possible reversal.

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