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(M4) Approaching Key Short-Term Resistance

GILT TECHS
  • RES 4: 101.00 Round number support
  • RES 3: 100.73 1.764 projection of the Feb 29 - Mar 1 - 4 price swing
  • RES 2: 100.50 1.618 projection of the Feb 29 - Mar 1 - 4 price swing
  • RES 1: 100.05/100.37 High Mar 22 / 12 and a key S/T resistance
  • PRICE: 99.82 @ Close Mar 22
  • SUP 1: 98.87/05 20-day EMA / Low Mar 15
  • SUP 2: 97.67 76.4% retracement of the Feb 29 - Mar 12 rally
  • SUP 3: 97.42 Low Mar 1
  • SUP 4: 96.83 Low Feb 29 and the bear trigger

Gilt futures traded higher last, as the recovery from 98.05, the Mar 15 low, extends. A continuation higher would expose key short-term resistance at 100.37, the Mar 13 low, where a break would strengthen any developing bullish theme. Key short-term support has been defined at 98.05, the Mar 15 low. A break would be bearish. For now, 98.05 and 100.37 mark the key short-term directional triggers.

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