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Free Access(U0) Fails To Hold Above 138.00 *RES.....>
GILT TECHS: (U0) Fails To Hold Above 138.00
*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: 138.15 High Jul 10
*PRICE: 137.38 @ Close Jul 13
*SUP 1: 136.95 Low Jul 1
*SUP 2: 136.89/82 50-day EMA / Low Jun 24
*SUP 3: 136.72 Low Jun 22
*SUP 4: 136.48 Low Jun 19 and key support
Gilts futures traded sharply lower yesterday. The outlook is bullish however
price needs to trade above Friday's high of 138.15 to reinforce a bullish
potential. The positive outlook follows last week's break of the former key
resistance at 138.02, May 22 high. However, the failure to follow through so far
is a concern for bulls. Key support lies at 136.95, Jul 1 low and a break would
instead highlight a potential short-term trend reversal.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.