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(U0) Holding Pattern

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
  • RES 1: 138.86 High Jul 31
  • PRICE: 138.49 @ Close Aug 3
  • SUP 1: 137.96 20-day EMA
  • SUP 2: 137.82 Low Jul 24 and key support
  • SUP 3: 137.51 Low Jul 22
  • SUP 4: 137.36 Low Jul 15

Having traded at a new intraday cycle high at 138.86 Friday, markets faded into the close and held the mark Monday. Nonetheless, last week's gains confirmed a resumption of the uptrend and maintain the bullish price sequence of higher highs and higher lows. This opens 138.99 next, the May 22 high, with bulls taking confidence of topping the 138.84 Fib projection. On the downside, firm support has been defined at 137.82, Jul 24 low. A breach of this level would dent current bullish sentiment.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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