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(M3) Impulsive Bear Wave Extends

GILT TECHS
  • RES 4: 100.15 20-day EMA
  • RES 3: 99.73/100.11 Low Apr 19 / High May 18
  • RES 2: 99.21 High May 19
  • RES 1: 96.93/97.98 Intraday high / High May 23
  • PRICE: 95.51 @ 08:06 May 24
  • SUP 1: 94.76 76.4% of the Oct 12 - Nov 24 2022 rally (cont)
  • SUP 2: 94.51 3.00 projection of the May 3 - 10 - 11 price swing
  • SUP 3: 93.92 3.236 projection of the May 3 - 10 - 11 price swing
  • SUP 4: 93.27 3.382 projection of the May 3 - 10 - 11 price swing

Gilt futures remain in a bear mode position and are already trading sharply lower again today. The move highlights a continued acceleration of the downtrend as the current impulsive bear wave extends. Sights are set on 94.76 next, 76.4% of the Oct 12 - Nov 24 2022 rally (cont). Initial resistance is at today’s intraday high of 96.93. A firmer resistance is seen at 99.73, the Apr 19 low.

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