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(M3) Bulls Remain In The Driver’s Seat

GILT TECHS
  • RES 4: 107.07 5.50 proj of the Feb 28 - Mar 6 - Mar 7 price swing
  • RES 3: 106.70 5.382 proj of the Feb 28 - Mar 6 - Mar 7 price swing
  • RES 2: 106.37 5.00 proj of the Feb 28 - Mar 6 - Mar 7 price swing
  • RES 1: 106.20 High Mar 13
  • PRICE: 104.87 @ Close Mar 13
  • SUP 1: 104.55 23.6% retracement of the entire rally from Feb 28
  • SUP 2: 104.00 Round number support
  • SUP 3: 103.53 38.2% retracement of the entire rally from Feb 28
  • SUP 4: 102.40 Low Mar 13

Gilt futures rallied through a host of Fibonacci projections Monday, reinforcing a strong bull cycle with firm momentum. The rally paves the way for a climb towards 106.37 and 106.70 next, Fibonacci projection levels. On the downside, yesterday’s 102.40 low is the first key short-term support to watch. At this stage, a break of 102.40 is required to signal a reversal. This would potentially expose the late Feb lows.

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