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(U2) More Stable But Still Fragile


Trend Structure Remains Bullish


Cautious Risk Appetite Gains Momentum


Key Support Still Exposed


Late Equity Roundup: 2W Highs

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(U0) Corrective Recovery Extends

  • RES 4: 126-077 High Aug 4/5 and key resistance
  • RES 3: 126-05+ High Aug 7
  • RES 2: 126-01 High Aug 11
  • RES 1: 125-292 61.8% retracement of the Aug 5 - 14 sell-off
  • PRICE: 125-276 @ 11:25 BST, Aug 19
  • SUP 1: 125-186 Low Aug 14 and key support
  • SUP 2: 125-16+ Low Jul 2
  • SUP 3: 125-15+ 100-dma
  • SUP 4: 125-13 50% retracement of the Jun - Aug rally

5yr futures are holding onto this week's gains as the corrective bounce extends. The outlook for now remains bearish. Price last week traded through 125-22+ (the late July low). This reinforced the current bearish theme signalling scope for an extension lower. Attention is on 125-166, Jul 2 low where a break would expose 125-13, a Fibonacci retracement. On the upside, resistance is seen at 125-292, a Fibonacci retracement.

MNI London Bureau | +44 203-586-3805 |
MNI London Bureau | +44 203-586-3805 |

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