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US EURODLR OPTIONS

BLOCK, Green June Call Fly

RUSSIA

Russia 1Q21 GDP Prints Above Expectations

(U0) Fifth Session of Lower Lows

GILT TECHS
  • RES 4: 139.70 Low Mar 3 (cont)
  • RES 3: 139.05 High Mar 12 (cont)
  • RES 2: 138.99 High May 22 (cont)
  • RES 1: 138.93 High Aug 4
  • PRICE: 138.12 @ Close Aug 10
  • SUP 1: 137.69 Low Aug 10
  • SUP 2: 137.51 Low Jul 22 / 50-dma
  • SUP 3: 137.36 Low Jul 15
  • SUP 4: 137.31 100-dma

Having struck a new contract high at 138.93 last week, Gilt futures have now printed five consecutive sessions of lower lows. There are few signs of a bearish breakout just yet, though with key support at the 50-dma (cont) yet to give way. Prices have edged further from the May high on the continuation chart, meaning the firm Jun-Aug uptrend looks to be over for now, although the outlook won't switch to bearish without a close below 137.51.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com