(M4) Still In Retracement Mode

• 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: 99.35/100.37 High Mar 14 / 12 and a key S/T resistance
• PRICE: 98.73 @ Close Mar 19
• SUP 1: 98.05 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 remain in a bull-mode position, however, the recent move lower does suggest scope for a deeper retracement. A continuation of the latest sell-off would open 97.67, a Fibonacci retracement point. Clearance of this level would expose the key support and the bear trigger at 96.83, Feb 29 low. On the upside, key resistance has been defined at 100.37, the Mar 13 high. A breach of this level would confirm a resumption of the recent bull cycle.