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(M3) Bear Cycle Extends

GILT TECHS
  • RES 4: 103.00 Round number resistance
  • RES 3: 102.20 High Feb 20
  • RES 2: 101.92 High Feb 24
  • RES 1: 100.00/100.98 Round number, former support / High Feb 27
  • PRICE: 99.75 @ 10:33 GMT Feb 28
  • SUP 1: 99.38 Intraday low
  • SUP 2: 99.17 1.382 projection of the Feb 20 - 23 - 24 price swing
  • SUP 3: 98.94 1.50 projection of the Feb 20 - 23 - 24 price swing
  • SUP 4: 98.70 1.618 projection of the Feb 20 - 23 - 24 price swing

Gilt futures have recovered from today’s intraday low of 99.38. Trend conditions remain bearish and this week’s lows reinforce current conditions. The move down confirms a resumption of the trend and note that the 100.00 handle has been cleared. A continuation lower would open 99.17, the 1.382 projection of the recent Feb 20 - 23 - 24 price swing. On the upside, initial resistance is seen at 100.00 and Monday’s 100.98 intraday high

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