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(M4) Has Breached The 50-Day EMA

GILT TECHS
  • RES 4: 99.19 76.4% of the Mar 12 - Apr 25 bear leg
  • RES 3: 99.10 High Apr 10
  • RES 2: 98.46 61.8% of the Mar 12 - Apr 25 bear leg
  • RES 1: 98.23 High Apr 12
  • PRICE: 97.95 @ Close May 8
  • SUP 1: 97.07 20-day EMA
  • SUP 2: 96.43/95.36 Low May 3 / Low Apr 25 and the bear trigger
  • SUP 3: 95.00 Round number support
  • SUP 4: 94.86 2.236 proj of the Mar 12 - 15 - 22 price swing

Gilt futures traded higher Tuesday, extending the recovery from the Apr 25 low of 95.36. The contract has recently cleared the 20-day EMA, and this week’s gains have resulted in a break of the the 50-day EMA at 97.64. This undermines the recent bear theme and a clear break the EMA would highlight a stronger short-term bullish condition and open 98.23 next, the Apr 12 high. A reversal lower would refocus attention on 95.36, the bear trigger.

Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income Bullets

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