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(M3) Bullish Outlook And Support Remains Intact

GILT TECHS
  • RES 4: 108.92 High Nov 24 (cont) and a key resistance
  • RES 3: 108.00 Round number resistance
  • RES 2: 107.78 High Feb 2 and a key resistance (cont)
  • RES 1: 107.33 Intraday high
  • PRICE: 107.15 @ 08:30 GMT Mar 20
  • 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 today’s resumption of gains signals scope for a climb towards the 108.00 handle. The contract trades higher Friday to reinforce 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.

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