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UK DATA

UK Monthly GDP Rose As Schools Reopen

SILVER TECHS

Bulls Still In Charge

UK DATA

UK GDP Down in Q1 Amid Lockdown

GOLD TECHS

Bullish Price Sequence

WTI TECHS

(M1) Needle Still Points North

(U0) Prices Break Down Further

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: 136.81 @ Close Aug 13
  • SUP 1: 136.74 Low Aug 12
  • SUP 2: 136.53 61.8 % Jun - Aug Rally
  • SUP 3: 136.39 23.6% Mar - May Rally
  • SUP 4: 135.30 200-dma (cont)

The losing streak for Gilt futures extended to seven consecutive sessions of lower lows Wednesday, opening further the gap with contract highs printed last week at 138.93. This has weakened the previously resolutely bullish outlook, with prices now below both the 50- and 100-dmas. The close below 137.51 is a bearish development, opening a further leg lower to Fib supports at 136.39/53.

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