(M4) Bull Cycle Extends

• RES 4: 100.73 1.764 projection of the Feb 29 - Mar 1 - 4 price swing
• RES 3: 100.31 1.50 projection of the Feb 29 - Mar 1 - 4 price swing
• RES 2: 100.12 1.382 projection of the Feb 29 - Mar 1 - 4 price swing
• RES 1: 100.03 High Mar 8
• PRICE: 99.55 @ Close Mar 8
• SUP 1: 98.33/97.91 Low Mar 5 / 4
• SUP 2: 97.42 Low Mar 1
• SUP 3: 96.83 Low Feb 29 and the bear trigger
• SUP 4: 96.00 Round number support

Gilt futures traded higher last week, extending the recovery from the Feb 29 low. Resistance at 98.53, the Feb 26 high, has recently been cleared. The break eases recent bearish pressure and instead signals scope for a continuation higher near-term. 99.00 has also been cleared and sights are on 100.12 next, a Fibonacci projection. Key support and the bear trigger has been defined at 96.83, Feb 29 low. Initial support is at 98.33, the Mar 5 low.