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(M3) Impulsive Rally Extends

GILT TECHS
  • RES 4: 105.66 4.50 proj of the Feb 28 - Mar 6 - Mar 7 price swing
  • RES 3: 105.50 4.382 proj of the Feb 28 - Mar 6 - Mar 7 price swing
  • RES 2: 105.29 4.236 proj of the Feb 28 - Mar 6 - Mar 7 price swing
  • RES 1: 104.95 Intraday
  • PRICE: 104.06 @ 10:07 GMT Mar 13
  • SUP 1: 104.00 Round number support
  • SUP 2: 103.59 23.6% retracement of the entire rally from Feb 28
  • SUP 3: 102.75 38.2% retracement of the entire rally from Feb 28
  • SUP 4: 102.40 Intraday low

Gilt futures have rallied through a host of Fibonacci projections this morning, reinforcing a strong bull cycle with firm momentum. The rally paves the way for a climb towards 105.00. A break of this handle would open 105.29 and 105.50, the 4.236 and 4.238 projections of the Feb 28 - Mar 6 - Mar 7 price swing. On the downside, the 104.00 handle is seen as first support. Today’s 102.40 low is the first key short-term support.

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