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(U0) Bearish Cycle Remains Intact *RES...>

GILT TECHS
GILT TECHS: (U0) Bearish Cycle Remains Intact
*RES 4: 137.36 High Jun 1
*RES 3: 136.76 High Jun 3
*RES 2: 136.09 Low May 19 and key near-term resistance
*RES 1: 135.96 High Jun 9
*PRICE: 135.70 @ Close Jun 9
*SUP 1: 135.05 Low Jun 5
*SUP 2: 134.89 2.236 projection of May 22 - 27 swing from May 29 high
*SUP 3: 134.72 2.382 projection of May 22 - 27 swing from May 29 high
*SUP 4: 134.58 2.500 projection of May 22 - 27 swing from May 29 high
Gilts continue to trade above recent lows however a downside risk remains
intact. A bearish theme follows the recent reversal off 138.02, May 22 high.
Furthermore, the break last Thursday of 136.09, May 19 low confirmed a bearish
cycle and has left the contract exposed to a deeper decline. Attention is on
134.89 and 134.72, both Fibonacci projection levels. On the upside, key
near-term resistance is seen at 136.09, May 19 low.

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