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GILT TECHS
GILT TECHS: (U0) Clears Former Resistance
*RES 4: 139.70 Low Mar 3 (cont)
*RES 3: 139.05 High Mar 12 (cont)
*RES 2: 138.48 1.00 projection of Jun 19 - 25 rally from Jul 1 low
*RES 1: 138.20 High Jul 16 and the bull trigger
*PRICE: 138.09 @ Close Jul 16
*SUP 1: 137.36 Low Jul 15
*SUP 2: 137.25 Low Jul 13 and key near-term support
*SUP 3: 137.00/136.95 50-day EMA / Low Jul 1
*SUP 4: 136.82 Low Jun 24
Gilts futures traded higher Thursday and registered a fresh trend high at
138.20. This confirms a resumption of the latest recovery phase that has been in
place since Jun 5. A clear breach of the 138.00 handle, that has provided
resistance since late May would also represent an important bullish break as the
contract clears a key hurdle. The next objective is 138.48, a Fibonacci
projection. Firm near-term support is at 137.25, Jul 13 low.

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