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(M4) Watching Support

GILT TECHS
  • RES 4: 100.73 1.764 projection of the Feb 29 - Mar 1 - 4 price swing
  • RES 3: 100.50 1.618 projection of the Feb 29 - Mar 1 - 4 price swing
  • RES 2: 100.05/100.37 High Mar 22 / 12 and a key S/T resistance
  • RES 1: 99.32 High Apr 2
  • PRICE: 98.39 @ Close Apr 2
  • SUP 1: 98.20/98.05 Low Apr 2 / Low Mar 15 and a key support
  • 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 have not managed to hold on to their recent gains. Instead, the gap lower yesterday and the subsequent sell-off, highlights a developing bear threat. A continuation lower would signal scope for a test of key short-term support at 98.05, the Mar 15 low. A break of this level would strengthen a bearish theme. Key resistance and the bull trigger is unchanged at 100.37, the Mar 12 high.

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