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(M3) Watching Support

GILT TECHS
  • RES 4: 103.53 50.0% retracement of the Mar 20 - Apr 19 bear leg
  • RES 3: 102.99 High Apr 14
  • RES 2: 102.63 38.2% retracement of the Mar 20 - Apr 19 bear leg
  • RES 1: 101.84/102.46 20-day EMA / High May 3
  • PRICE: 100.93 @ Close May 5
  • SUP 1: 100.37 Low May 2
  • SUP 2: 99.73 Low Apr 19
  • SUP 3: 99.55 Low Mar 8
  • SUP 4: 99.20 Low Feb 28 and key support

Gilt futures maintain a short-term bullish tone despite the most recent pullback. Resistance at the 20-day EMA which intersects at 101.84, has been breached and a resumption of gains would open 102.63, 38.2% of the Mar 20 - Apr 19 bear leg. A break of this retracement would strengthen bullish conditions. On the downside, key support and the bear trigger to watch is at 99.73. A break would resume the downtrend that started Mar 20.

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