(M3) Bullish Outlook And Support Remains Intact

• RES 4: 108.00 Round number resistance
• RES 3: 107.78 High Feb 2 and a key resistance (cont)
• RES 2: 106.88 High Feb 6 (cont)
• RES 1: 106.67 High Mar 17
• PRICE: 105.98 @ Close Mar 17
• SUP 1: 104.12 Low Mar 16
• SUP 2: 103.82 38.2% retracement of the entire rally from Feb 28
• SUP 3: 103.12 Low Mar 15
• SUP 4: 102.67 20-day EMA

Gilt futures remain above 103.12, the Mar 15 low. For now, the outlook is bullish and a resumption of gains would signal scope for a climb towards 106.88, the Feb 6 high on the continuation chart. The contract did trade higher Friday and this reinforces bullish conditions. On the downside, firm support is seen at the 20-day EMA, where a break would strengthen any developing bearish threat. The average intersects at 102.67.